USD/CAD: At risk of a test into 1.3500/25 near-term – TDS USDCAD Banks Canada BOC
is moving up and down in a narrow channel at around 1.3390. Economists at TD Securities expect the pair to test the 1.3500/20 zone in the short-term.“Currently, the CAD is displaying a lot of sensitivity to data surprises, risk sentiment and broad USD dynamics. This is likely to persist for some time. We would pay particular attention to Jan/Feb data as that is likely to motivate asymmetries in curve pricing around the BoC later this year.
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