16 Jan 2014
Flash: CAD weakness to persist - HSBC
FXstreet.com (Bali) - Looking ahead, HSBC expects further CAD weakness going forward.
Key Quotes
"The conditions both in Canada and abroad, are likely to prevail for the foreseeable future, and should be consistent with additional downward pressure on the CAD."
"With the currency already at its lowest levels against the USD in nearly four years, and given the notable depreciation in recent months and over the past year, more pronounced near-term gains in USD-CAD will become more difficult."
But buying strategies remain favoured, and we would continue to view corrective declines in the currency pair opportunistically to establish long positions."
Key Quotes
"The conditions both in Canada and abroad, are likely to prevail for the foreseeable future, and should be consistent with additional downward pressure on the CAD."
"With the currency already at its lowest levels against the USD in nearly four years, and given the notable depreciation in recent months and over the past year, more pronounced near-term gains in USD-CAD will become more difficult."
But buying strategies remain favoured, and we would continue to view corrective declines in the currency pair opportunistically to establish long positions."