USD/CAD: A test of 1.30 in the coming weeks is on the cards – ING USDCAD Banks Oil BOC Fed
to enter a sustainable downside path in the second half of the year. However, the pair could test 1.30 in the coming weeks.“A BoC-Fed rate gap of -50 bps does limit the downside potential of USD/CAD. However, there is a chance that the Fed cutsmore aggressively in the second half of the year, and that is when USD/CAD could stabilise on a more solid downward path.
“A test of 1.3000 in the coming weeks is surely possible in USD/CAD, but would likely be due to either more idiosyncratic USD weakness or rising oil prices.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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