USD/CAD fits below 1.3600 as US Biden compromises budget spending for debt-ceiling raise USDCAD BOC Fed GDP Inflation
essure after a sharp decline in appeal for the US Dollar Index . The USD Index lost its appeal after US President Joe Biden comprised the scale of spending initiatives proposed for the budget for approving a raise in the United States borrowing cap limit to avoid default. US Treasury Secretary Janet Yellen already warned Congressional leaders that the Federal government could default by June 05 on obligated payments.
Investors should note that an increase in the US debt-ceiling would attract credit rating agencies, which would downgrade the long-term credibility of the US economy. This may have a significant impact on the US Dollar Index and US equities.
, amid the release of the Gross Domestic Product data, which will release on Wednesday. As per the preliminary report, monthly GDP is seen contracting by 0.1% vs. an expansion of 0.1% recorded in February. Q1 and annualized GDP are seen significantly expanding by 0.4% and 2.1% respectively vs. a stagnant performance.
steady from March considering that the current monetary policy is restrictive enough to tame stubborn inflation.USD/CAD showed a stellar upside action after a breakout of the Symmetrical Triangle formed on a four-hour scale. The
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 rebounds from 1.3600 as US White House reaches bipartisan with RepublicansThe USD/CAD pair has witnessed a buying interest near the round-level support of 1.3600 in the early Tokyo session. The Loonie asset has rebounded as
Read more »
USD/CAD Price Analysis: Extends pullback from short-term key resistance to 1.3600USD/CAD Price Analysis: Extends pullback from short-term key resistance to 1.3600 USDCAD Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
Aston Villa's elated Emery dreaming of European nightsAston Villa's remarkable turnaround under Unai Emery will bring European football to the club for the first time in more than a decade and the Spanish manager is relishing another shot at a continental trophy in the Conference League next season.
Read more »
Twitter pulls out of EU’s voluntary Code of Practice against disinformation | EngadgetTwitter has withdrawn from a voluntary European Union agreement to combat online disinformation..
Read more »
Biden says debt deal 'very close' with default deadline now set at June 5President Joe Biden said a deal to resolve the government's debt ceiling crisis seemed “very close” late Friday.
Read more »
Biden Honors LSU, UConn Basketball Teams Following NCAA Championship Wins“In this team, we saw hope, we saw pride and we saw purpose. It matters,' Biden said of the Tigers, who defeated Iowa for the national title in April.
Read more »