Ekonomické zprávy
14.10.2021

USD/CAD: Next target on the downside is 1.2370/50 – OCBC

FXStreet reports that economists at OCBC Bank expect the USD/CAD pair to extend its slump.

“The US CPI entering slightly firmer than expected gave the USD a brief boost, but it came under selling pressure soon after. The FOMC minutes did not reveal new insights beyond the statement and Powell press-con. The market was reminded of a year-end start to tapering, and at a pace that will conclude in mid-2022.”

“ The CAD’s gain against the USD was relatively muted, but it kept the USD/CAD on a downside bias towards 1.2350/70 as the next target. Short term implied valuations also point to more downside.”

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