3 Feb 2014
Flash: Time to build long USD/CAD positions? - Societe Generale
FXStreet (Guatemala) - Sebastien Galy, Senior FX Strategist at Societe Generale looked into the Canadian Dollar.
Key Quotes
"Canadian consumer confidence (Nano) continued its steady plunge. Crucially expectations plunged very sharply. The next leg to watch is housing data in Canada as the party now seems to be over."
"The bubble had long supported consumer spending and that leg seems to be cut. It's getting time soon to rebuild these long USD/CAD positions. Meanwhile the weather hit continues to percolate on US manufacturing leading USD/JPY to break lower."
Key Quotes
"Canadian consumer confidence (Nano) continued its steady plunge. Crucially expectations plunged very sharply. The next leg to watch is housing data in Canada as the party now seems to be over."
"The bubble had long supported consumer spending and that leg seems to be cut. It's getting time soon to rebuild these long USD/CAD positions. Meanwhile the weather hit continues to percolate on US manufacturing leading USD/JPY to break lower."