What is the outlook for USD/CAD?
Here is their view, courtesy of eFXdata:
Danske Research discusses USD/CAD outlook and targets the pair at 1.25 in 3M, 1.26 in 6M, and 1.27 in 12M
“USD/CAD has been trading in close tandem with (reverse) EUR/USD over past months. We expect this pattern to continue and still regard USD/CAD as a low beta version of USD/NOK,” Danske notes.
“Consequently, we expect the cross to move lower in coming quarters before modestly rebounding on renewed USD strength,” Danske adds.
For lots more FX trades from major banks, sign up to eFXplus
By signing up for eFXplus via the link above, you are directly supporting Forex Crunch.