The Canadian dollar has pulled its US counterpart to 2, ½ month lows at 1.3710, the FX Analysts’ team at TD Securities, however, are sceptical about further CAD appreciation. Key quotes “If anything, we expect him (BoC Governor Macklem) to defer to the terms of trade as the primary driver of the CAD. On this basis, the terms of trade are rather poor given the deterioration in oil prices.” “Moreover, trade and household liquidity issues are likely to surface as considerable drags for the CAD. Indeed, we expect US/China pressures to escalate and ‘smaller open’ economies like Canada may serve as a proxy battleground, as is the case with Australia already.” “We are inclined to fade moves towards 1.37 while 1.3850 will now be notable resistance. A break above the latter will likely have us strongly consider a more significant topside move.” FX Street 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 Post By FX Street FXStreet News share Read Next Canada: Q1 GDP slump is just a preview of what’s coming in Q2 – NFB FX Street 3 years The Canadian dollar has pulled its US counterpart to 2, ½ month lows at 1.3710, the FX Analysts’ team at TD Securities, however, are sceptical about further CAD appreciation. Key quotes “If anything, we expect him (BoC Governor Macklem) to defer to the terms of trade as the primary driver of the CAD. On this basis, the terms of trade are rather poor given the deterioration in oil prices.” “Moreover, trade and household liquidity issues are likely to surface as considerable drags for the CAD. Indeed, we expect US/China pressures to escalate and 'smaller open' economies like Canada may serve as… 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.
