Trader, analyst and instructor with a 6-year experience

Barclays: where will USD/CAD go?

Analysts at Barclays Capital forecast USD/CAD to rise towards 1.1700.

In their view, a break above 1.1280 was a strong bullish sign and opened the way to 1.1600 and then to 1.1670-1.1730.

USD/CAD has reached a fresh 5-year high of 1.1365 on Wednesday, pushed by the falling oil prices. Saudi Arabia triggered a new wave of oil sales by saying the economy is comfortable with $70-80 per barrel. 

Chart. Weekly USD/CAD


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