FXStreet reports that analysts at Mizuho Bank discuss USD/CAD prospects.

“Some observers say the vaccine roll-out has been delayed, but if a structure is put in place soon and vaccines are steadily implemented, then domestic economic growth could recover to pre-pandemic levels by the end of 2021. With the markets swinging between risk aversion and risk appetite on the covid situation, it seems WTI prices will continue trading around $40-50/barrel. Various countries will undergo economic recoveries in the medium-term, so WTI prices are unlikely to collapse, with the USD/CAD pair also set to continue trading below 1.30. The Bank of Canada will probably maintain its current pace of quantitative easing. This is another reason why the USD/CAD pair will broadly move between 1.26-1.29.”