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Canadian dollar outlook from GS. Their 3 month forecast is for USD/CAD to 1.40
- GS had a projection of 1.42 previously.
- GS cautious on CAD in the next quarter due, citing the extent of its recent rally
- 6 month to 1.37 (prev. 1.37)
- 12 month to 1.32 (prior. 1.30)
More from GS :
- USD/CAD broke below a few key levels last week as a pro-risk rotation across markets supported higher-beta currencies. But we continue to expect any further rally to be short-lived.
- The Bank of Canada will likely ease policy in the coming months, and Canada still has domestic fragilities-housing market risks, energy sector recession-as well as other less favourable fundamentals than other economies with similar currency drivers (e.g., NOK).
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