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USD/CAD points to 1.37 in early 2016 – TDS

FXStreet (Edinburgh) - Currency Strategist at TD Securities Ned Rumpeltin sees the pair ticking higher towards 1.37 in early 2016.

Key Quotes

“Looking forward, our year-end target of 1.33 remains intact for USDCAD”.

“In the wake of yesterday’s FOMC result, we do see some upside risks to that forecast, but this will depend on US growth showing clear signs of improvement over the next several weeks”.

“Strategically, we prefer to play USDCAD from the long side overall even if the Fed does not hike in December as the CAD will need to remain weak to facilitate the structural realignment in the domestic economy”.

“Currently, we have USDCAD forecast to reach a peak of 1.37 in the early part of next year and we maintain that forecast for now”.

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