USD/CAD aims to surpass 1.3700 ahead of BoC policy and US NFP

The USD/CAD pair finds temporary resistance near the round-level barrier of 1.3700 in Tuesday’s New York session.

USD/CAD aims to break above 1.3700 as the US Dollar gains ground. The BoC is expected to deliver a dovish interest rate decision on Wednesday. Investors see the Fed returning to policy normalization from September. The USD/CAD pair findstemporary resistance near the round-level barrier of 1.3700 in Tuesday’s New York session. The Loonie asset is poised to deliver more upside as investors expect the Bank of Canada to announce a rate-cut decision in its monetary policy meeting on Wednesday.

Meanwhile, the market sentiment is risk-averse as investors turn cautious ahead of the United States Nonfarm Payrolls data for May, which will be announced on Friday. Considering negative overnight futures, the S&P 500 is expected to open on a bearish note. The US Dollar Index , which tracks the US Dollar’s value against six major currencies, recovers sharply to 104.30.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FXStreetNews /  🏆 14. in US

Fed BOC Inflation NFP

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.

USD/CAD remains on the defensive above 1.3600 ahead of the BoC rate cut decisionThe USD/CAD pair remains on the defensive around 1.3620 during the early Asian session on Tuesday.
Read more »

USD/CAD finds cushion near 1.3650, reversal likely on firm BoC rate-cut betsThe USD/CAD pair trades in a tight range slightly above the crucial support of 1.3650 in Monday’s Asian session.
Read more »

USD/CAD advances to 1.3650 as US Dollar recovers, BoC policy in focusThe USD/CAD pair jumps to 1.3660 in Monday’s European session.
Read more »

BoC & ECB possible rate cuts, NFP to close the weekMay's end-of-month flows were wild but directionless – and the first week of June is packed of top-tier events that may shape trends for weeks.
Read more »

– ECB rate cut might get eclipsed by BoC surprise and NFP report [Video]ECB poised to cut rates, but what’s next? The path by central banks to lower borrowing costs has been far from smooth, but it seems that the European Central Bank will be among the first to reach its desired destination.
Read more »

USD/CAD rises toward 1.3700 ahead of US PCE, Canada’s GDPUSD/CAD halts its recent losses, trading around 1.3690 during the Asian session on Friday.
Read more »