USD/CAD: Maintain a long position, targeting 1.3700 – Nomura USDCAD Currencies Banks TradeBalance
“1. Softer Terms of Trade in Canada: Nomura believes that Canada's terms of trade, which is the ratio of export prices to import prices, is softening. This could mean that the prices for Canadian exports are falling relative to the prices of its imports, which can negatively impact the Canadian economy and, consequently, the CAD.”
“3. US Economic Resilience Adversely Impacting High-Beta G10 Currencies: The resilience of the US economy, according to Nomura, can have an adverse impact on high-beta G10 currencies, including the CAD. High-beta currencies are typically more volatile and sensitive to changes in market conditions. As the US economy remains resilient, it may attract investment away from riskier high-beta currencies like the CAD.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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