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Dec 22 - 12:55 PM

USD/CAD: Trading In A Close Reverse With EUR/USD; What's Next? - Danske

By eFXdata  —  Dec 22 - 11:15 AM

Danske Research discusses USD/CAD outlook and targets the pair at 1.25 in 3M, 1.26 in 6M, and 1.27 in 12M

"USD/CAD has been trading in close tandem with (reverse) EUR/USD over past months. We expect this pattern to continue and still regard USD/CAD as a low beta version of USD/NOK," Danske notes.

"Consequently, we expect the cross to move lower in coming quarters before modestly rebounding on renewed USD strength," Danske adds. 

Source:
Danske Research/Market Commentary

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