The Canadian Dollar (CAD) is finding some lift to kick off the new trading week, bolstered by investors finding their risk appetite in early trading.
Canadian Dollar catching some lift as the broad-market US Dollar Index recedes. The Bank of Canada lands with its next rate call on Wednesday. Market sentiment is improving on Monday, sending the Greenback lower. With the US Purchasing Manager Index , US Gross Domestic Product , and US Personal Consumption Expenditure Index data all due in the upcoming week, the US Dollar is going to see plenty of play in the markets in the coming days.
US PMI components are expected to decline slightly; Manufacturing is forecast at 49.5 , and Services is seen at 49.9 . The BoC’s next rate call is broadly anticipated to hold at 5%, and investors are hoping for signs that the Canadian central bank will start looking ahead to rate cuts sooner rather than later. Potential supply constraints stemming from the Gaza Strip conflict are easing as diplomatic efforts are underway to cool Middle East tensions, pulling back oil bids.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australian Dollar extends losses amid US Dollar rebounds, focus on US, Australia dataThe Australian Dollar (AUD) continues the losing streak for the fourth successive day on Monday. The AUD/USD pair faces challenges due to a rebound in
Read more »
USD/CAD spikes higher to 1.3750 as focus shifts to BoC monetary policyThe USD/CAD pair reversed losses and climbed back strongly to the crucial resistance around 1.3750 in the early New York session. The Loonie asset rev
Read more »
USD/CAD holds above the 1.3700 area, investors await the BoC rate decisionThe USD/CAD pair trades sideways around 1.3715 during the early Asian session on Monday. Investors await the Bank of Canada (BoC) Interest Rate Decisi
Read more »
ECB and BoC policy decisions and global PMIs headline the week's economic agendaECB and BoC policy decisions and global PMIs headline the week's economic agenda
Read more »
Markets Week Ahead: S&P 500, Gold, US Dollar; Powell, ECB, BoC, Australia CPI, Germany Ifo, UK jobsConflict in Middle East and US earnings season are likely to be key drivers of broader market sentiment in the coming week. Currency markets would be watching for cues from Powell speech, European Central Bank and Bank of Canada interest rate decisions.
Read more »