The Canadian dollar could weaken against the U.S. dollar given Canada's soft household debt servicing outlook. The CAD is the currency we are most closely watching in the G10 at this time, as it appears most vulnerable to the USD wrecking ball--which has already afflicted so many others this year. However, the market may need to wait until upcoming U.S. and Canadian inflation data before securing a new high in USD/CAD. Looking for USD/CAD 1.40 as the next major target level. - TD Securities
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