FXStreet (Barcelona) – Strategists at BofA-Merrill Lynch, offer the outlook for USD and CAD.
Key Quotes
“A bid has returned for the US dollar and our economists believe the Fed will still hike in September.”
“Given that Canada was likely in recession in H1, the recent drop in oil prices and the risk the Bank of Canada is forced to cut rates next week, short CAD makes good trading sense.”
“In addition, [….] long US banks, short Canada banks remains an attractive 2015 position.”
(Market News Provided by FXstreet)