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USD/CAD potential decline medium-term – Danske Bank

FXStreet (Edinburgh) - In the opinion of Stanislava Nielsen, Analyst at Danske Bank, the pair could well see its decline resumed in the next months.

Key Quotes

“Canada stands to benefit from a US recovery, which we see materialising even further next year”.

“However, as the Fed’s first rate hike is moving closer, while the BoC’s monetary policy remains neutral, support for USD/CAD should remain in place”.

“However, we expect oil prices to stabilize close to current levels and expect them to head marginally higher over the coming 3-6 months”.

“In conclusion, we expect USD/CAD to retrace over the coming months after the recent spike”.

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