What is the outlook for USD/CAD into year-end? Bank of America Global Research discusses USD/CAD outlook and maintains a long exposure into year-end. “We recently went long USDCAD, spot 1.3160, via 3-month 1.34/1.38 call spread, in the context of potentially higher market volatility, softer oil and rising USD. CAD has recovered from March weakness on the back of surging global risk appetite and higher oil, which softened Canada’s terms-of-trade shock, but CAD remains a highly cyclical currency,” BofA notes. “USD/CAD seasonals are bullish. External financing risks look set to increase after the debt capital flow surge in 1H, underpinned by twin deficits in the current account and net direct investment. Oil is now under pressure. Technicals are supportive,” BofA adds. 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 GBP/JPY Price Analysis: Recovers further from multi-month lows, climbs to mid-134.00s FX Street 2 years What is the outlook for USD/CAD into year-end? Bank of America Global Research discusses USD/CAD outlook and maintains a long exposure into year-end. "We recently went long USDCAD, spot 1.3160, via 3-month 1.34/1.38 call spread, in the context of potentially higher market volatility, softer oil and rising USD. CAD has recovered from March weakness on the back of surging global risk appetite and higher oil, which softened Canada's terms-of-trade shock, but CAD remains a highly cyclical currency," BofA notes. "USD/CAD seasonals are bullish. External financing risks look set to increase after the debt capital flow surge in 1H, underpinned by… 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.
