Home USD/CAD: Poised for a fresh leg higher to 1.50 and beyond – Westpac

USD/CAD: Poised for a fresh leg higher to 1.50 and beyond – Westpac

Published date: 2 Apr. 2020 | 15:42

The Bank of Canada’s liquidity and credit backstops have contained market disruptions but genuine healing has yet to take place. USD/CAD to escalate in the coming weeks, according to analysts at Westpac Institutional Bank.

Key quotes

“USD/CAD has been biding its time around 1.40- 1.45 since mid-March but appears poised for a fresh leg higher to 1.50 and beyond.”

“The loonie has a lot of ground to cover lower before it is more in line with the steep fall in Canada’s terms of trade. USD/CAD on track to test 1.50+ in Q2.”

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.