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27 Mar 2015
Bearish on USD/CAD, targeting 1.2310 – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team, maintains there bearish outlook on USD/CAD, expecting Canadian rates to remain steady at 0.75% and boost CAD.
Key Quotes
“After BoC governor’s comments we maintain our forecast that the bank will not change interest rates at its next meeting on April 15.”
“Despite weaker forecasts for the first quarter, Poloz was optimistic about the rest of the year, particularly in manufacturing and other non-energy exports.”
“In our opinion the main rate will be still at the level of 0.75% at the end of this year.”
“The CAD weakened against the USD yesterday despite jump in oil prices and the speech of BoC governor that was less dovish than expected. The USD/CAD rose above 1.2520, the entry level and lowered stop-loss of our short position.”
“Our outlook on the USD/CAD is still bearish. We got short again at 1.2520.”
“USD/CAD: short at 1.2520, target 1.2310, stop-loss 1.2620, risk factor **”
Key Quotes
“After BoC governor’s comments we maintain our forecast that the bank will not change interest rates at its next meeting on April 15.”
“Despite weaker forecasts for the first quarter, Poloz was optimistic about the rest of the year, particularly in manufacturing and other non-energy exports.”
“In our opinion the main rate will be still at the level of 0.75% at the end of this year.”
“The CAD weakened against the USD yesterday despite jump in oil prices and the speech of BoC governor that was less dovish than expected. The USD/CAD rose above 1.2520, the entry level and lowered stop-loss of our short position.”
“Our outlook on the USD/CAD is still bearish. We got short again at 1.2520.”
“USD/CAD: short at 1.2520, target 1.2310, stop-loss 1.2620, risk factor **”