The USD/CAD pair drops to around 1.4020 in Friday's early Asian session, influenced by the US jobless claims data and US trade threats against Canada. The Canadian Dollar (CAD) faces downward pressure due to potential tariffs measures, and traders are cautious ahead of key US labor market data.
USD/CAD weakens to near 1.4020 in Friday’s early Asian session. The US weekly Initial Jobless Claims rose slightly last week. Trump tariff threats could weigh on the Loonie and act as a tailwind for the pair. The USD/CAD pair trades in negative territory around 1.4020 during the early Asian session on Friday. The US Dollar remains under renewed selling pressure as traders prefer to wait on the sidelines ahead of the US and Canadian labor market reports, which aredue later on Friday.
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. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD.
USD/CAD Jobless Claims US Economy Trade Threats Canadian Dollar
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