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21 Feb 2014
Flash: USD/CAD, resiatance is futile - TD Securities
FXStreet (Guatemala) - Shaun Osbourne, Chief FX Strategist at TD Securities noted the Canadian uptrend is getting back on track.
Key Quotes:
"We think the broader uptrend evident in the past few months is getting back on track now."
"There’s a reason why the CAD has spent the last couple of months sliding lower and that is because the domestic economy is sluggish and the BoC is worried about weak inflation".
"The CAD is the main under-performer on the session and is testing, or has cracked on through, some key levels on the crosses—the 1.0050 area versus the AUD and the mid-1.85s in GBP/CAD".
"The broader trend up in USD/CAD is starting to look very, very strong again and while this has happened very quickly, we think it is hard to ignore. Resistance is futile."
Key Quotes:
"We think the broader uptrend evident in the past few months is getting back on track now."
"There’s a reason why the CAD has spent the last couple of months sliding lower and that is because the domestic economy is sluggish and the BoC is worried about weak inflation".
"The CAD is the main under-performer on the session and is testing, or has cracked on through, some key levels on the crosses—the 1.0050 area versus the AUD and the mid-1.85s in GBP/CAD".
"The broader trend up in USD/CAD is starting to look very, very strong again and while this has happened very quickly, we think it is hard to ignore. Resistance is futile."