We push out our USD/CAD end-15 through end-17 forecasts to 1.30, 1.35 and 1.40 respectively, in deference to the speed of oil’s decline and the dovish BoC reaction to this development
We continue to like selling CAD against MXN and NOK as a relative value trade that isolates oil breakeven differentials and lowers the beta to short term oil price fluctuations
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