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9 Apr 2015
Credit Agricole: USD remains a buy on dips – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes Credit Agricole views that the recent FOMC meet suggests a June hike in near, hence suggest buying USD dips, especially against CAD and the EUR.
Key Quotes
“According to yesterday’s FOMC minutes release several central bank members judged that the economic data and outlook were likely to warrant beginning normalization at the June meeting. Even if some members keep a cautious stance due to the stronger USD’s dampening impact on inflation expectations such a development is unlikely sustainable. This is especially true as further improving growth prospects should compensate for tighter monetary conditions as related to a stronger currency.”
“As such we expect the USD to remain a buy on dips, in particular against the EUR and CAD. Hence we stay long USD/CAD.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“According to yesterday’s FOMC minutes release several central bank members judged that the economic data and outlook were likely to warrant beginning normalization at the June meeting. Even if some members keep a cautious stance due to the stronger USD’s dampening impact on inflation expectations such a development is unlikely sustainable. This is especially true as further improving growth prospects should compensate for tighter monetary conditions as related to a stronger currency.”
“As such we expect the USD to remain a buy on dips, in particular against the EUR and CAD. Hence we stay long USD/CAD.”
This content has been provided under specific arrangement with eFXnews.