Flash: Canadian fundamentals stronger than what USD/CAD reflects - UBS

FXstreet.com (Córdoba) - The UBS analyst team argues that Canadian fundamentals are stronger than what USDCAD has reflected.

"The CAD has been thrown in the same basket with the AUD, which has sold off massively", says UBS. "However, the Australian weakness is a domestic and Australia-specific case. Canada on the other hand has no structural problem such as Australia and going forward Canada should continue to profit from the US recovery".

"We remain CAD bullish and prefer an AUDCAD short position to express this view", they add.