What is the forecast for USD/CAD? Here is their view, courtesy of eFXdata: Credit Agricole CIB Research discusses CAD outlook and flags a scope for further correction against the USD. “Even though sentiment may remain in favour of buying the CAD against lower yielders such as the EUR, CHF and JPY, positioning as it stands still argues for some caution. Even though the CAD is not yet trading in strongly overbought territory, corrective downside risk should be treated as high,” CACIB notes. “Having said that, we remain of the view that the currency should not be chased higher with underperformance against most of its commodity bloc peers likely to remain intact too,” CACIB adds. For lots more FX trades from major banks, sign up to eFXplusBy signing up for eFXplus via the link above, you are directly supporting Forex Crunch. Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Daily Look share Read Next EUR/USD to suffer further downside as all themes play against the euro – OCBC FX Street 2 years What is the forecast for USD/CAD? Here is their view, courtesy of eFXdata: Credit Agricole CIB Research discusses CAD outlook and flags a scope for further correction against the USD. "Even though sentiment may remain in favour of buying the CAD against lower yielders such as the EUR, CHF and JPY, positioning as it stands still argues for some caution. Even though the CAD is not yet trading in strongly overbought territory, corrective downside risk should be treated as high," CACIB notes. "Having said that, we remain of the view that the currency should not be chased higher with underperformance… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
