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15 Aug 2013
Flash: USD/CAD a buy on dips – Westpac
FXstreet.com (New York) - Global FX Strategist Sean Callow at Westpac analyzes the medium-term outlook of the USD/CAD.
Key quotes
CPI and retail sales the key releases. After last month’s strong retail print, and given recent cooler complexion to the data lately (building permits, jobs) risks are firmly to the downside on retail sales.
“The USD/CAD remains firmly entrenched in a medium-term uptrend from Sep 2012. With the BoC on the sidelines and EM growth unlikely to accelerate dramatically beyond stabilization, the medium uptrend should extend well into 2014 – buy dips in USD/CAD if seen into 1.0250-1.0200.”
Key quotes
CPI and retail sales the key releases. After last month’s strong retail print, and given recent cooler complexion to the data lately (building permits, jobs) risks are firmly to the downside on retail sales.
“The USD/CAD remains firmly entrenched in a medium-term uptrend from Sep 2012. With the BoC on the sidelines and EM growth unlikely to accelerate dramatically beyond stabilization, the medium uptrend should extend well into 2014 – buy dips in USD/CAD if seen into 1.0250-1.0200.”