Flash: CAD weakness likely to be short lived - UBS

FXstreet.com (Córdoba) - While the AUD has been sliding lower already for weeks, the CAD kept its strength, given stronger economic data out of Canada, notes the UBS analyst team.

"However, in recent days, also the CAD has seen a decent setback. On the one hand the announcement about the end of US quant easing put a number of currencies, such as SEK, NOK and EM currencies under pressure", says UBS. "Furthermore, the flooding in Calgary put the CAD under pressure. We expect latest moves to reverse in the coming weeks, but cannot rule out short term weakness".