USD/CAD can hit 1.25-1.27 by mid-2024 – ING USDCAD UnitedStates Fed RiskAppetite Banks
CAD remains quite tied to the domestic US story, and therefore to the USD itself. Should we see a fully-fledged risk-on rally on the back of a clear softening in US data, expect CAD underperformance compared to other pro-cyclicals.
A more conservative scenario, where markets have to ‘hold their horses’ on the USD decline/Fed peak story for a bit longer can make CAD stand out. 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. You should do your own thorough research before making any investment decisions.
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