Canadian Dollar bolstered by rising market sentiment. Canada posted a 0.3% uptick in GDP, propping up CAD. US PCE inflation also ticked lower, further bolstering rate cut hopes. The Canadian Dollar (CAD) found some room on the high side on Friday, pushing up by a scant tenth of a percent against the US Dollar amid […]
USD/CAD trades flat at around 1.3700 after a big data day for the pair. Canadian GDP showed a 0.3% rise in April suggesting a strong economy. US PCE inflation data, the Fed’s preferred gauge, meanwhile, showed progress towards the Fed’s 2.0% target. USD/CAD trades flat at around 1.3700 on Friday after the release of Canadian […]
USD/CAD posts modest gains near 1.3655 in Tuesday’s early Asian session. BoC Governor Tiff Macklem said the Canadian economy is on track for a soft landing. Investors await the release of the US GDP growth number on Thursday and the PCE Price Index on Friday. The USD/CAD pair remains on the defensive around 1.3655 during […]
USD/CAD stays on the sidelines above 1.3700 amid uncertainty over the timeframe for Fed rate cuts. US customers cut heavily on discretionary spending, which indicates a decline in purchasing power. Canadian Retail Sales are expected to have returned in a positive trajectory. The USD/CAD pair trades in a tight range but comfortably holds the crucial […]
Fundamental Overview The USD came back with a vengeance last Friday following the strong US NFP report where the data surprised with solid job and wage growth. There were also negatives like the uptick in the unemployment rate, but all in all, we can say that it was a good report. The data triggered a […]
Share: Powell’s hawkish tone on inflation and potential for further rate hikes propels USD/CAD to a three-month high of 1.3640, currently trading at 1.3613. Philadelphia Fed’s Patrick Harker adds fuel to the fire, stating rates are already restrictive and may need to rise further if inflation stalls. Lackluster Canadian retail sales data at […]
Share: USD/CAD bulls got rejected at the 200-day SMA and retreated near the 1.3420 area, still poised for a weekly gain US PPI rose to 2.4% YoY in July, higher than expected. Higher Oil prices help the CAD trade strong against most of its rivals. At the end of the week, the USD/CAD […]
