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24 Sep 2014
USD/CAD potential decline medium-term – Danske Bank
FXStreet (Edinburgh) - In the opinion of Stanislava Nielsen, Analyst at Danske Bank, the pair could well see its decline resumed in the next months.
Key Quotes
“Canada stands to benefit from a US recovery, which we see materialising even further next year”.
“However, as the Fed’s first rate hike is moving closer, while the BoC’s monetary policy remains neutral, support for USD/CAD should remain in place”.
“However, we expect oil prices to stabilize close to current levels and expect them to head marginally higher over the coming 3-6 months”.
“In conclusion, we expect USD/CAD to retrace over the coming months after the recent spike”.
Key Quotes
“Canada stands to benefit from a US recovery, which we see materialising even further next year”.
“However, as the Fed’s first rate hike is moving closer, while the BoC’s monetary policy remains neutral, support for USD/CAD should remain in place”.
“However, we expect oil prices to stabilize close to current levels and expect them to head marginally higher over the coming 3-6 months”.
“In conclusion, we expect USD/CAD to retrace over the coming months after the recent spike”.