The USD/CAD pair holds onto gains near 1.3550 in Monday’s North American session.
USD/CAD grips gains near 1.3550 amid US Dollar’s strength. Better-than-feared US NFP report boosts the US Dollar. Investors await the US inflation and BoC Macklem’s speech. The Loonie asset trades in a tight range as sheer strength in the US Dollar has cushioned the downside, whilethe upside remains restricted by the firm Canadian Dollar The US Dollar Index , which tracks the Greenback’s value against six major currencies, surges to 101.60.
9%, with core inflation-which excludes volatile food and energy prices, growing steadily by 3.2%. Meanwhile, the Canadian Dollar exhibits strength despite the Bank of Canada is expected to soften its interest rate policy further. Market speculation for the BoC extending its policy-easing cycle further in October as the Unemployment Rate increased at a faster pace to 6.6% in August from the estimates of 6.5% and July’s release of 6.4%.
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 extends downside below 1.3630 in countdown to Canadian InflationThe USD/CAD pair continues its losing streak for the third trading session on Tuesday.
Read more »
USD/CAD drops to near 1.3460 as US Dollar edges lower ahead of inflation testThe USD/CAD pair falls to near 1.3460 in Thursday’s Asian session.
Read more »
USD/CAD extends its losing streak amid firm Oil prices, US Inflation in focusThe USD/CAD pair continues its losing spell for the seventh trading session on Monday.
Read more »
USD/CAD declines toward 1.3700 on soft US producer inflation reportThe USD/CAD pair appears vulnerable near 1.3730 in Tuesday’s New York session.
Read more »
USD/CAD stays near 1.3700 after expected decline in US inflationThe USD/CAD pair hovers near the round-level support of 1.3700 in Wednesday’s New York session.
Read more »
USD/CAD IG Client Sentiment: Our data shows traders are now net-long USD/CAD for the first time since Jul 18, 2024 when USD/CAD traded near 1.37.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bearish contrarian trading bias.
Read more »