EUR/USD: Scope For N-Term Consolidation; USD/CAD: Lower Into Next Week's BoC - Barclays

Barclays Capital FX Strategy Research discusses EUR/USD outlook and thinks that the pair has overshot recently.
"We see further near-term gains as unlikely despite its expectations for further medium-term EUR appreciation," Barclays argues. 
On USD/CAD, Barclays notes that the economic data have surprised in Canada, with the CAD playing catch-up
"The market is now 80% priced for a 25bp rate hike at the 17 January BoC rate decision. As such, we expect USDCAD to extend its decline into the event as expectation builds," Barclays adds.