Credit Agricole discussed its outlook for CAD in a recent note to clients, seeing scope for further correction against USD.
Credit Agricole explains:
Even though sentiment may remain in favour of buying the CAD against lower yields such as the EUR, CHF and JPY, positioning as it stands still argues for some caution. Even though the CAD is not yet trading in strongly overbought territory, corrective downside risk should be treated as high.
Having said that, we remain of the view that the currency should not be chased higher with underperformance against most of its commodity bloc peers likely to remain intact too.
Credit Agricole explains:
Even though sentiment may remain in favour of buying the CAD against lower yields such as the EUR, CHF and JPY, positioning as it stands still argues for some caution. Even though the CAD is not yet trading in strongly overbought territory, corrective downside risk should be treated as high.
Having said that, we remain of the view that the currency should not be chased higher with underperformance against most of its commodity bloc peers likely to remain intact too.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.