USD/CAD: The 1.25 mark set to cap the advance – OCBC
|The USD succumbed to post-NFP profit-taking, with the cyclicals, led by the CAD, outperforming within the G-10 space. USD/CAD pares part of its previous day’s loss on Monday but the pair is set to stay below the 1.2500 level, according to economists at OCBC Bank.
Consolidate within range
“Upside momentum may have to take a break for now.”
“Firmer catalyst is probably required to take the pair northwards of 1.2500, and that is perhaps not forthcoming for now.”
“Expect USD/CAD to settle into a broad 1.2200 to 1.2500 range in the multisession horizon.”
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