12 Jan 2016
USDCAD at a new multi-year high - BBH
FXStreet (Delhi) – Research Team at BBH, notes that that the greenback has made new multi-year highs against the Canadian dollar (~CAD1.4270).
Key Quotes
“The continued drop in oil prices keeps it vulnerable, while the dismal business outlook, reported yesterday (with the weakest investment and employment plan since 2009) keeps many anticipating a rate cut. The implied yield on the March BA futures contract has fallen 10 bp in the past week to 70 bp and is at three-month lows. Some profit-taking was triggered late in the European morning. Look for buyers to reemerge in the $1.4150-CAD1.4170 area.”
Key Quotes
“The continued drop in oil prices keeps it vulnerable, while the dismal business outlook, reported yesterday (with the weakest investment and employment plan since 2009) keeps many anticipating a rate cut. The implied yield on the March BA futures contract has fallen 10 bp in the past week to 70 bp and is at three-month lows. Some profit-taking was triggered late in the European morning. Look for buyers to reemerge in the $1.4150-CAD1.4170 area.”