USD/CAD: Target range raised slightly to 1.3225-1.3900 – Credit Suisse

“We tempered our bearishness on CAD setting a 1.3000-1.3650 USD/CAD target range. With the top end of our target range breached, we raise our target range slightly to 1.3225-1.3900, with the extremes of the range consistent with the highs and the lows of Q4 thus far.”

“Our underlying assumptions is that CAD will remain more influenced by broader risk sentiment than by domestic factors, even if we see potential for the BoC to provide some marginal support for CAD today. A dovish surprise by the BoC would likely bring us to revisit ourBoC Preview: Forecasts from nine major banks, very close callInformation on these pages contains forward-looking statements that involve risks and uncertainties.

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