National Bank of Canada sees USD/CAD range-bound as Fed-BoC rate expectations reprice amid calm oil - VT Markets

National Bank of Canada sees USD/CAD range-bound as Fed-BoC rate expectations reprice amid calm oil - VT Markets

National Bank of Canada sees USD/CAD range-bound as Fed-BoC rate expectations reprice amid calm oil - VT Markets

National Bank of Canada Sees USD/CAD Range-Bound as Fed and BoC Expectations Offset - VT Markets

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.