Credit Suisse economists they no longer see a compelling reason for the USDCAD Hit 1.4100 Q4 Target: Now down to 1.3500 and reset your 1.3250-1.4300 target range to 1.3000-1.3650 for the rest of the quarter.
CAD is vulnerable to deteriorating global growth prospects
“We now see less compelling reason for USDCAD to hit our 1.4100 Q4 target compared to the timing of our Q4 outlook, barring via a broad USD rally leading to all USD crosses. to the upside. The risks of disappointed expectations, which underpin our still bearish view on AUD, are simply less asymmetrical on CAD.”
“We lowered our target for USDCAD at the end of the fourth quarter from 1.4100 to 1.3500 and reset our target range for the pair from 1.3250-1.4300 to 1.3000-1.3650 for the remainder of the quarter. This leaves us with a small pro-dollar bias, as that we continue to view the CAD as vulnerable to deteriorating global growth prospects.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
