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Oct 20 - 06:55 PM

USD/CAD: The Path Of Least Resistance Remains To The Upside Towards 141 By Year-End - Credit Suisse

By eFXdata  —  Oct 20 - 03:00 PM

Credit Suisse maintains a bullish bias on USD/CAD targeting a move towards 1.41 by year-end.

"Front -end USDCAD risk reversal skews have eased over the past 2 weeks, following a period of considerable larger premium for calls over puts:.. CAD has also seen a considerable repricing in monetary policy expectations of late, largely on the back of the hawkish speech by BoC chief Macklem on 6 Oct. Since then, the terminal rate implied by the OIS market has risen from around 3.80 -3.90% to around 4.30% at the time of writing. T," CS notes. 

"The path of least resistance in USDCAD will remain to the upside, towards our end -Q4 target at 1.4100," CS adds. 

Credit Suisse Research/Market Commentary


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