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- USD/CAD could easily surpass the 1.40 level – TDS
USD/CAD could easily surpass the 1.40 level – TDS
The outlook for the loonie is bleak. USD/CAD rallied to 1.3977 after hotter-than-expected US inflation data and could break above the 1.40 mark, economists at TD Securities report.
Dips into 1.3800/50 are a buy
“Even if the next phase of USD strength is not as linear as it has been for much of this year, there is a lot of negative idiosyncratic risk coming the CAD's way with the debt servicing problem for households only in the early days.”
“While we have forecast 1.40 into year-end, it is no ceiling and it could very easily get worse for the CAD.”
“Dips into 1.3800/50 are a buy.”
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