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