USD/CAD heading for 1.2600...

The Loonie’s luck continues to ride on or rest with the fortunes of oil in the main, and another and more pronounced fallout in WTI and Brent has pushed it back down to the bottom of the G10 pile as USD/CAD rebounds circa one big figure from the low 1.2400 area irrespective of upbeat Canadian Ivey PMIs. Further bullish moves anticipated into new high territory.