From a wider perspective, the pair maintains its broader positive bias intact and is on track to complete a four-week rally from levels below 1.4000 in late November.
The Canadian Dollar trims some losses with the USD pulling back ahead of US inflation data. The US Dollar is correcting lower against its main rivals on Friday after having rallied sharply this week. The USD/CAD has been capped at 1.4435 earlier today turning negative on the day below 1.4400 to approach Thursday’s lows, at 1.4345. The focus today is on the US PCE Prices Index data, which is expected to confirm the Fed’s concerns about higher price pressures.
The US Federal Reserve cut rates by 25 basis points on Wednesday but scaled back its easing projections to just two rate cuts in 2025, from the median of four cuts estimated in September. The Bank of Canada, on the other hand, slashed rates by 50 basis points for the second consecutive time last week and hinted to more rate cuts to support economic growth. Canadian Dollar PRICE Today The table below shows the percentage change of Canadian Dollar against listed major currencies today.
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