Our Canadian friends have asked us our thoughts on the Canadian dollar.
In general, the outlook is bearish. The CAD had a maximum in 2007 and it has not been able to overpass it.
Since the second try in 2011, it has declined around 40% in a pretty sharp manner, therefore we are expecting some kind of light rebound during 2016 and part of 2017 to continue with the bearish escenario in 2018.
We find support in 0.61 and a final long-term target in 0.5.