Ekonomické zprávy
25.10.2021

USD/CAD: Scope for a slide to the 1.22 level – MUFG

FXStreet reports that economists at MUFG Bank said that fundamentals remain supportive for CAD strength.

“The Canadian rate market has moved sharply over the past month to price in both earlier BoC hikes and a larger hiking cycle.”

“The CAD has been benefiting from the higher price of oil. Our oil analyst expects the higher price of oil to be sustained as the current fundamental setup couldn’t be more favourable, and has set a year end forecast for Brent at $85/barrel. It should help to support a stronger CAD heading into year-end although we are wary of downside risks posed by the upcoming OPEC+ meeting on 4th November which also coincides with the COP26 climate talks.”

Podívejte se také