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11 May 2015
USD/CAD points to consolidation – BBH
FXStreet (Edinburgh) - The research team at BBH sees USD/CAD consolidating for the time being, until a stronger catalyst turns up.
Key Quotes
“The US dollar also appears to be consolidating in a range against the Canadian dollar”.
“The Canadian dollar did not rally as much as one might have expected given that it created nearly 47k new full-time positions in March, which be roughly the equivalent of the US adding 470k jobs”.
“It grew a little less than half of that. The dollar's range is approximately CAD1.20 to CAD1.22”.
“The technical condition is similar to the Australian dollar. The next significant move seems to be for a stronger US dollar, but it is not clear that an important low is in place”.
Key Quotes
“The US dollar also appears to be consolidating in a range against the Canadian dollar”.
“The Canadian dollar did not rally as much as one might have expected given that it created nearly 47k new full-time positions in March, which be roughly the equivalent of the US adding 470k jobs”.
“It grew a little less than half of that. The dollar's range is approximately CAD1.20 to CAD1.22”.
“The technical condition is similar to the Australian dollar. The next significant move seems to be for a stronger US dollar, but it is not clear that an important low is in place”.