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Feb 01 - 02:55 PM

USD/CAD: Downside Prospects Unattractive N-Term; Looking To Sell Rallies To 1.29 - Credit Suisse

By eFXdata  —  Feb 01 - 01:30 PM

Credit Suisse likes selling USD/CAD on rallies into 1.29 over the coming weeks.

While we remain medium-term constructive on CAD and hold a 3m 1.2550 USDCAD target, BoC policy risks and US environmental policy unknowns make tactical near-term USDCAD downside prospects unattractive expressions of a pro-risk view in FX space...This particularly applies over the course of this month as the US policy agenda starts to take form in earnest," CS notes. 

"We prefer to fade rallies to 1.2900 for now," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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