Canadian dollar not getting a bump as Iran war winds down. Eyes on USMCA
USD/CAD — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
ING | Bullish | 1.33 |
Rabobank | Bullish | 1.36 |
Bank of America | Bullish | 1.35 |
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USD/CAD is slightly lower today but the loonie isn't getting the same kind of lift that we're seeing in the Australian dollar as the risk trade ramps up today on the end of the war in Iran. The main reason for the sluggish CAD performance is the fall in crude oil prices. WTI is d
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4 itemsWhy the Canadian dollar is largely shrugging off the trade war talk
USD/CAD pulls back into a major trendline ahead of the BoC and Fed decisions. What's next?
The desk believes that USD/CAD is poised for a potential rally, especially as the market anticipates the outcomes of both the BoC and FOMC meetings. Per the full note [source], the US dollar has regained strength due to geopolitical tensions affecting oil prices, which could compel the Fed to adopt a more hawkish stance. With the BoC likely to maintain its cautious approach, the CAD may struggle to gain traction. The consensus target for USD/CAD sits at 1.075, with significant events on the calendar that could influence market dynamics.