CAD view from RBC - say USD/CAD could drop under 1.30 even after the drop its already had this month.
Citing positives for CAD:
- Compression in 2-year spreads
- Supply side proxies for crude
- USD weakness
RBC add that equity returns were a driver, but that has reduced.
RBC like long CAD/JPY and add to watch Friday's BOC Business Outlook Survey and the April GDP report
