OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: TD Securities expects AUD/CAD to test 1.1000 in the next 1-3 months

FXstreet.com (San Francisco) - After peaking to 1-month high at 1.0715 on March 22nd, the AUD/CAD has been retracing toward the 1.0560 level where the pair remains trading in consolidation mode. The Cross is currently at 1.0585, just 10 pips above opening price.

But the TD Rates, FX & Commodities Research team expects the AUD/CAD to test 1.1000 in the next 1-3 months. "Beyond the next week or two, we think the odds favour a test of the key 1.10 level," TD Securities team affirms. "Our forecast envisages a peak of 1.12 in Q2 - a 28-year high - to be driven by divergent policy expectations: firming belief that the easing cycle is over in Australia by mid-year, against the BoC’s “lower for longer” in Canada.

TD Securities's AUD/CAD forecasts: Q2’13: 1.1170; Q3’13: 1.0600; Q4’13: 1.0400; Q1’14: 1.000; Q2’14: 0.9800.

Forex: GBP/USD stumbles to 1.5184/86

The GBP/USD has broken lower off the 1.5200 mark Friday, having fallen several pips to trade at 1.5184/86 in these moments. While trading negatively during American trading, the cross is now incurring a loss of -0.02%, having unsuccessfully summited the 1.5200 barrier.
Read more Previous

Forex Flash: Euro sovereign spreads declining but still seek panacea – Goldman Sachs

The introduction of the OMT has served to reduce intra-Euro area sovereign spreads. However, “our new data indicator suggests that it has done little to reduce cross-country divergence in bank lending rates to non-financial corporations (NFCs), which has remained stubbornly high in recent months despite the stabilization of sovereign markets.” suggests the Economics Research Team at Goldman Sachs.
Read more Next
Start livechat