Friday, October 2, 2009

TD Securities adheres bearish forecast for the dollar / Canada

Today the dollar / Canada has demonstrated outstanding performance - first pair soared to a sessional maximum on the level of 1.0950, followed in early U.S. session more quickly sank to a low of 1.0790. Nevertheless, in a broader perspective view of currency strategists, TD Securities remains the same - they are still considering the growth of the U.S. dollar as a good opportunity to sell a pair. Today's jump in the dollar / Canadian area of 1.09 above yesterday's slightly exceeded analysts' expectations of the bank. Nevertheless, the bank noted that the chances of the U.S. dollar growth continues to remain weak. Bank analysts believe that in the next few days, volatility in the pair will remain, but, in general, adhere to the bearish forecast. The bank still prefer to sell dollar / Canada on the growth, thus, believe in the bank, the couple may well be a while to grow on the upper end of the range of 1.10/1.11. At the moment pair dollar / franc traded at 1.0832.

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