USD/CAD set to fall towards the 1.2062 2017 low - Credit Suisse

FXStreet reports that in line with their bullish commodity view, economists at Credit Suisse maintain a medium-term preference for commodity currencies, especially the Canadian dollar. The USD/CAD is set for a test of the 2017 low at 1.2062, in their view.

“With commodities surging and completing a long-term base, the commodity currencies should benefit, with USD/CAD one of our favored expressions. 

“We still see scope for USD/CAD to eventually test the 1.2062 [2017] low, which is expected to be a tough initial barrier.”