fxstreet.com 22 Feb, 2021 08:00 am

USD/CAD to move below 1.26 – ING

USD/CAD to move below 1.26 – ING
Last week, the CAD had a strong performance, in line with other pro-cyclical currencies. On the first day of the new week, bears attack the 1.2600 lev

FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.Economists at ING Bank expect the USD/CAD pair to slide below this mark.Key quotes “Idiosyncratic factors are contributing to put a floor below CAD: the improved outlook for the US economy (thanks to encouraging economic data and vaccination figures), on which Canada heavily relies on, and WTI staying around$60/bbl, despite Thursday’s short-lived sell-off.

“This week, keep an eye on the speech by BoC Governor Tiff Macklem on Tuesday, although we suspect he will continue to send a Fed-like cautious message to the market in spite of the improved economic outlook.” Information on these pages contains forward-looking statements that involve risks and uncertainties.

Read full story at fxstreet.com