FXStreet (Edinburgh) – Strategist at Westpac Richard Franulovich expects the pair to hit the key barrier at 1.40 in the medium term.

Key Quotes

“Long-held USD/CAD bullish stance paying long overdue dividends”.

“Atmospherics favour a run at 1.40 in 2016Q1 amid fresh lows in energy prices, weakening Canadian growth (Sep Monthly GDP fell 0.5%) and a clear message from Poloz that while rates are on hold the Bank has many tools at its disposal if need be, the policy rate notably among them with the effective lower bound now thought to be -0.5%, 0.75% lower than earlier estimates”.

Strategist at Westpac Richard Franulovich expects the pair to hit the key barrier at 1.40 in the medium term…

(Market News Provided by FXstreet)

By FXOpen