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Oct 01 - 01:24 PM
EUR/USD: Tripple-Whammy; USD/CAD: Towards 1.25 N-Term - SocGen
First appeared on eFXplus on Oct 01 - 09:29 AM

Societe Generale Research discusses EUR/USD outlook and adopts a neutral bias near-term, and USD/CAD outlook and adopts a tactical bearish bias.

"The Euro was hit by a triple-whammy of negative factors at the end of last week which have taken it from the top to the bottom end of its 1.15-1.18 range...

Three hits in a few days isn't helpful and plays to our view that a return to EUR/USD 1.20 and above will probably have to wait until H1 2019, but we don't think we'll see a break from, the current range," SocGen argues. 

"CAD and MXN are enjoying the North American trade agreement, and USD/CAD ought now to head back to 1.25," SocGen adds. 

Source:
Société Générale Research/Market Commentary

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