30 Jul 2015
USD/CAD bullish, focus on US data – TDS
FXStreet (Edinburgh) - Strategists at TD Securities reiterated their bullish stance on the pair, although reckoned the dependence on US data to extend the upside further.
Key Quotes
“In terms of the USDCAD, we do think that we could have another washout again if the data underwhelms”.
“Indeed, USDCAD has become more tightly correlated to relative data surprises”.
“Longer-term we remain bullish on the pair but will ultimately require a policy catalyst. At the moment, our daily fair value for USDCAD sits just below the 1.29 figure”.
Key Quotes
“In terms of the USDCAD, we do think that we could have another washout again if the data underwhelms”.
“Indeed, USDCAD has become more tightly correlated to relative data surprises”.
“Longer-term we remain bullish on the pair but will ultimately require a policy catalyst. At the moment, our daily fair value for USDCAD sits just below the 1.29 figure”.