Home USD/CAD: Trading In A Close Reverse With EUR/USD; What’s Next? – Danske
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USD/CAD: Trading In A Close Reverse With EUR/USD; What’s Next? – Danske

Kenny Fisher
Updated:

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.

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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.

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