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Nov 26 - 02:55 PM

USD/CAD: Likely To Grind Slowey Lower Reaching 1.22 By Q2 22 - Barclays

By eFXdata  —  Nov 26 - 01:30 PM

Barclays Research discusses USD/CAD medium-term outlook.

"We expect the BoC to retain its hawkish stance and hike more in line with what the market is pricing, unlike the Fed. We expect the BoC to hike three times next year starting in Q2 22 whereas we expect the Fed to be relatively more patient and expect no hikes in 2022; BoC’s relative hawkishness bodes well for the CAD, and we do not expect any challenge to market pricing from its upcoming framework review," Barclays notes.

"We expect USDCAD to continue to grind slowly lower reaching 1.22 by Q2 22. On the downside, the loonie remains vulnerable to broader risk sentiment deterioration," Barclays adds. 

Source:
Barclays Research/Market Commentary

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