Browsing: Daily Look

The Canadian economy has been showing mixed data. What is the outlook for USD/CAD?

Here is their view, courtesy of eFXdata:

Credit Agricole CIB Research discusses the CAD outlook and adopts a neutral bias in the near-term, noticing that USD/CAD is close to its fair value around current levels.

“The CAD continues to trade as a function of global risk sentiment and oil prices. This also means that for the currency to continue to rally, we would need to see further sustained recovery in global commodity prices and risk sentiment,” CACIB notes.

“Indeed, our FAST FX model is suggesting that USD/CAD is trading close to its fair value derived on the basis of current levels of risk appetite and commodity prices among other drivers,” CACIB adds.

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