Deal Parameters:
Login - 0.8900
SL - 0.8780
TP - 0.9300
After the US dollar rally began in mid-April, and the oil peaked after a record, CAD managed to outperform most of its competitors in the G-10, while the NZD, a victim of trade friction between the US and China, was the most late of all , with -4% since the beginning of the year.
With regard to the CAD, the bank is of the opinion that peak optimism along the NAFTA arrangements has passed and the currency has nothing more to accumulate. Though Bank Of Canada is expected to raise interest rates in July, TD has been firmly opposed to the cumulative tightening of monetary policy. Excessive tightening of monetary policy will result in losses for the Canadian. On the other hand, the probability that RBNZ will take action on a change in monetary policy remains minimal.
Source: Bloomberg Pro Terminal
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