Richard Franulovich, Head of FX Strategy at Westpac, suggests that CAD is oddly weak despite a healthy domestic growth story and a BoC that has signaled yet more interest rate increases will be warranted in the future. Key Quotes “So far in July CAD has fared no better than EUR and has managed to eke out gains against just two other G10 peers – JPY and GBP – and in both cases it is more a case of independent weakness in the latter rather than outright CAD strength.” “The sharp fall in oil prices (almost 10% from recent peaks) could be a factor. Admittedly the BoC is unlikely to fuel expectations for even more hikes than are currently priced in (+40bp by end of Q1 2019) either, trade tensions seem certain to build and Chinese growth is slowing.” “USD/CAD likely has a tough time breaking down sustainably through 1.3000 near term, but by the same token USD/CAD looks expensive above 1.35.” 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 AUD/USD finds support near 0.7320, stages a modest recovery in the early NA trading FX Street 5 years Richard Franulovich, Head of FX Strategy at Westpac, suggests that CAD is oddly weak despite a healthy domestic growth story and a BoC that has signaled yet more interest rate increases will be warranted in the future. Key Quotes "So far in July CAD has fared no better than EUR and has managed to eke out gains against just two other G10 peers - JPY and GBP - and in both cases it is more a case of independent weakness in the latter rather than outright CAD strength." "The sharp fall in oil prices (almost 10% from recent peaks) could… 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.
