USD/CAD eyes move back towards low 1.2700s ahead of speech by BoC Governor MacklemNEWS | 12/15/2020 3:56:26 PM GMT | By Joel Frank USD/CAD has slipped back below 1.2750 and into the 1.2730s with the loonie performing well amid perky crude oil prices. The pair seems to be consolidating within a pennant and a downside break could trigger a move below 1.2700. USD/CAD has been trading with a downside bias in recent trade and the pair has dropped below the 1.2750 level into the 1.2730s, a decent reversal from Monday’s highs around 1.2790. A pick up in sentiment in US equity and crude oil markets seems to be helping the loonie, whilst Canadian Housing Starts (Nov) and Manufacturing Sales (Oct) data was largely ignored.