Scotia and TDAs I refered to on my previous post.
Both Scotia and TD seems to be bullish
TD - Original forecast (Jan 30th)
https://www.gbm.scotiabank.com/English/bns_econ/bnscomod.pdf
TD - Revised forecast ( 5 days ago)
https://www.gbm.scotiabank.com/English/bns_econ/forecast.pdf
The forecast for 2017 is 1.35 and 2018 1.55, it remains unchanged.
It will be interesting to see if they issue a revision on the revisions.
TD had similar price forecast on (January 17th).
https://www.tdsresearch.com/currency-rates/viewEmailFile.action?eKey=NMEULAO7Z6A229ZAJE5HKEYR6
Also if you look at TD (Page 4 of 5) they are also forecasting a big rise in Zinc Prices (Feb 22nd)
https://www.td.com/document/PDF/economics/commodity/commodity_feb2017.pdf
Anyways, I think it explain why they have been net buyers since March 22nd.
Let's see what happens today and going forth after this morning news.