Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Back

Buy USD/CASD, target 1.3500 - TDS

Analysts at TD Securities, (TDS), said that they have entered a long USD/CAD position (spot ref: 1.3115) in their FX Model Portfolio with a target of 1.35 and a stop-loss of 1.2880.

Key Quotes:

Rationale

"With markets priced for a July BoC hike and the CAD having enjoyed a rally recently, we think much of the good news is in the price setting up for a "buy the rumour/sell the fact" outcome. We think CAD is one of the most poorly situated currencies in the G10 as trade tensions have escalated.

Indeed with NAFTA talks on hiatus, trade tariffs underway with little reprieve on the horizon and Canada running a large negative external balance, CAD's return profile remains asymmetrically skewed to the downside. We think it is a high bar for a tone to emerge from the BoC meeting that supports CAD from here.

Now that rates are off the floor, household indebtedness high and interest payments accelerating, consumption spending will not be as robust as it was in the past, making it more difficult for the economy to obtain near-trend growth and deliver hikes in quick succession. As such, we see USD/CAD remaining north of 1.30 over the balance of the year."

Technicals

"Daily uptrend support located near 1.3050 with interim resistance located near the 1.34 YTD high."

EUR/GBP: rejected at 0.89 the figure, 200-D SMA now back under pressure

EUR/GBP has been back on the back foot on Tuesday, dropping from the 0.8874 Asian highs to a low of 0.8819 in early NY trade.  Cable has recovered fro
Read more Previous

German EconMin: US Pres. Trump’s trade policy boosts political instability risk

Germany's minister for economic affairs and energy, Peter Altmaier, recently crossed the wires saying that the US President Donald Trump's trade polic
Read more Next