Danske targeting 1.35 In 1-Month on USD/CAD

Market news

19 December 2016

Danske targeting 1.35 In 1-Month on USD/CAD

"Canada benefits from the improved growth outlook in the US, even if uncertainties as to the implications of the Trump victory for US-Canadian trade relations have risen markedly. The Bank of Canada left rates unchanged at the December meeting and our base case remains unchanged rates over the next 12M, even if the probability of a H2 17 hike has increased.

With the outlook of near-term USD strength and the risk of a setback in oil prices, we still see risks skewed towards a higher USD/CAD over the coming months.

We forecast the cross at 1.35 in 1M (previously1.36), 1.34 in 3M (unchanged), 1.30 in 6M (unchanged) and 1.28 in 12M (unchanged)".

Today’s events

Negative start of trading expected on the major stock exchanges in Europe: DAX -0.2%, CAC40 -0.2%, FTSE -0.1%

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.