USD/CAD: Instant-term upside risks, but bearish over the medium-term – ING

Jobs figures will be released in Canada nowadays. On the choice hand, this document is decided to be overshadowed by the US Nonfarm Payrolls, in step with economists at ING document who analyze the USD/CAD pair.

Much less relevant payrolls

“At the novel time’s jobs data out of Canada may maybe well maybe effectively subject now not up to the US NFP for CAD, given the Loonie’s elevated publicity to global menace bolt for meals.”

“We continue to discover about transient upside risks for USD/CAD, but live bearish over the medium term, largely on the lend a hand of a projected USD decline, relatively than CAD outperformance in contrast to other pro-cyclical currencies.”

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