In the opinion of Christian Lawrence, a strategist at Rabobank, the USD / CAD pair is ready to test 1.2575 before returning to a region of price stickiness around 1.2650.
Key statements:
“We see room for the current oil correction to continue, in our sights is a fall of around 5-7% more during the next sessions. This further drop in oil should translate into a retest of the USD / CAD level of 1.2575 and our base case is still reaching 1.26 by the end of the month. “
“The USD remains at the mercy of real rates and equity returns, which are of course closely linked. We could see continued handsaw movements as the market hears more from the Fed with no fewer than seven speeches scheduled for next week alone. In the short term, however, momentum is firmly on the side of a continued steepening of the UST (US Treasury) yield curve and accompanying a rise in real yields as breakevens struggle to continue. forging new all-time highs ”.
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