The Canadian Dollar (CAD) is catching a mild recovery on Friday, paring back Thursday’s dip after broad-market risk sentiment soured. Investors dog-pi
Canadian Dollar flows are resurfacing after Thursday’s nosedive, propped up by a reinvigorated oil bid. Canada economic data remains thin until Tuesday’s CPI print. US Dollar giving back yesterday’s gains after consumer sentiment miss. led into the US Dollar after a US Consumer Price Index inflation beat reignited fears of Federal Reserve interest rates remaining higher for even longer than markets are currently hoping for.
Other factors include market sentiment – whether investors are taking on more risky assets or seeking safe-havens – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another.
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