Back
22 Feb 2013
Forex Flash: CAD to continue fall after Canada CPI and Retail Sales – TD Securities
TD Securities analysts saw somewhat better mood in commodities (and less dovish talk from the RBA) lifting the AUD and the NZD through the overnight session, but the CAD is expected to further under-perform today, “based on the likelihood that this morning’s Canadian data continue to paint a sluggish picture for the economy”, wrote analysts Shaun Osborne and Greg Moore, suggesting that the CAD is “recalibrating” to the softer domestic growth trend evident through the second half of last year. “The soft undertone likely has a little more room to run”, they added.
In regard to technical analysis: “We think the broader trend higher remains well-entrenched in the market, however, and the scope for USD/CAD losses should remain very limited from here", wrote the TD Securities analysts, expecting a move above 1.0250 and possibly a rise to 1.0450, while support is at 1.0150/60 and support.
In regard to technical analysis: “We think the broader trend higher remains well-entrenched in the market, however, and the scope for USD/CAD losses should remain very limited from here", wrote the TD Securities analysts, expecting a move above 1.0250 and possibly a rise to 1.0450, while support is at 1.0150/60 and support.