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7 Apr 2021

USD/CAD to plummet to 1.2260 as US growth and oil prices gear up the loonie – Credit Suisse

Economists at Credit Suisse lower their USD/CAD target from 1.2550 to 1.2260 and look to sell rallies to 1.2700. 

Loonie’s fundamentals geared to US growth and oil prices

“The fundamental picture in Canada remains unequivocally strong, as the prospect of US demand momentum adds to the already beneficial impact from oil prices and from the multi-year consolidation/retooling of the local energy transportation network.”  

“The strong fiscal spending effort from the Trudeau government provides a homegrown source of support for CAD. Sovereign credit concerns remain on the backburner.”  

“We think the loonie has potential to appreciate further over the course of Q2. We lower our USD/CAD target from 1.2550 to 1.2260.”

“From a tactical standpoint, we see risks that suggest caution is warranted in picking entry levels for short USD/CAD positions, ideally north of 1.2700.”

 

Apr 7, 2021

EUR/USD to face initial resistance at the 1.1886 mark – Commerzbank

The EUR/USD pair is upside corrective as the dollar's slide is gaining traction, Karen Jones, Team Head FICC Technical Analysis Research at Commerzban
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Apr 7, 2021

Gold Price Analysis: XAU/USD fails at $1745 as cautiousness reigns ahead of the FOMC minutes

Gold witnessed a modest pullback from the $1,745-46 supply zone during the Asian session on Wednesday and eroded a part of the overnight gains to two-
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