📝Expect An Additional 75bps Of BoC Easing This Year: ING

With the BoC moving in line with our forecasts, and our expectations of an additional 75bp of easing this year (around 47bp priced in), we still think CAD looks less attractive than other high-beta currencies such as NOK, AUD and NZD, where domestic central banks should wait until at least the last quarter of the year before starting to cut rates. USD/CAD short-term risks are moderately skewed to the upside, but in line with our call for US data to start pointing to a September Fed cut, the pair can still find its way into 1.35 in the second half of the year. - ING