TD trade of the week: Buy USD/CAD
Canadian bank with a Canadian dollar trade idea
Consider buying USD/CAD this week, advises TD Research in its weekly FX pick.
They recommend buying at current levels (1.2763) with a target of 1.3000 and a stop at 1.2625.
"Dovish BOC risks fit into our framework that CAD and other risks assets have overpriced the still-evolving growth narrative... The implication is another retest around 1.30," they note.