USD/CAD to tick down to 1.42 amid stretched short-CAD positioning – Danske Bank
|
In Canadian Dollar (CAD) FX space, the reaction to PM Carney's snap election, scheduled for April 28, has been quite muted so far, Danske Bank's FX analyst Jesper Fjärstedt reports.
USD/CAD to target 1.45 on a 12-month horizon
"This is due to the backdrop of markets having expected the election to be called soon along with uncertainty related to the impending tariffs on April 2."
"Hence, tariffs continue to weigh heavily on USD/CAD. In the short term, we project USD/CAD to tick down to 1.42 amid stretched short-CAD positioning. Looking at longer horizons, we maintain our USD-positive view, targeting 1.45 on a 12-month horizon."
BRANDED CONTENT
Finding the right broker for your trading strategy is essential, especially when specific features make all the difference. Explore our selection of top brokers, each offering unique advantages to match your needs.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.