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17 Jul 2015
USD/CAD will struggle to break 2009 highs just above 1.30 – SocGen
FXStreet (Mumbai) - The cross asset strategy team at Societe Generale believes the USD/CAD will have a hard time to break 2009 highs seen just above 1.30.
Key Quotes
“The BOC cut took Canadian 2yr rates 13bp lower and NZ rates have fallen by 9bp this week. With Canadian 2yr rates now back below the US equivalent, it is not sure how much further rate-related weakness we can expect in CAD.
“Barring a further sharp fall in oil prices, USD/CAD will struggle to break 2009 highs just above 1.30.”
Key Quotes
“The BOC cut took Canadian 2yr rates 13bp lower and NZ rates have fallen by 9bp this week. With Canadian 2yr rates now back below the US equivalent, it is not sure how much further rate-related weakness we can expect in CAD.
“Barring a further sharp fall in oil prices, USD/CAD will struggle to break 2009 highs just above 1.30.”