The USD/CAD pair seesaws between tepid gains/minor losses during the Asian session on Thursday and for now, seems to have stalled its goodish rebound from the 1.3620-1.3615 region, or a three-week low touched on Tuesday.
USD/CAD struggles to capitalize on a two-day-old recovery trend from a three-week through. The Fed rate-cut uncertainty caps the upside for the USD and acts as a headwind for the pair A downtick in Crude Oil prices undermines the Loonie and lends some support to the major. Spot prices currently trade near the 1.3700 mark, nearly unchanged for the day as traders now await the release of US macro data before placing fresh directional bets.
The Canadian Dollar , on the other hand, continues to draw support from reduced bets for a July rate cut by the Bank of Canada , especially after data released on Tuesday showed an upward surge in the domestic consumer inflation in May. This, in turn, is seen capping the upside for the USD/CAD pair, though a downtick in Crude Oil prices undermines the commodity-linked Loonie and acts as a tailwind.
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 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 »
USD/CAD extends decline below 1.3750 ahead of US Retail SalesThe USD/CAD pair extends downside around 1.3720 during the early Asian session on Tuesday.
Read more »
USD/CAD IG Client Sentiment: Our data shows traders are now net-long USD/CAD for the first time since Jun 04, 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 »
USD/CAD struggles for a firm intraday direction, flat lines around mid-1.3600sThe USD/CAD pair struggles to capitalize on the previous day's late rebound from the 1.3620-1.3615 region, or a three-week low and remains on the defensive during the Asian session on Wednesday.
Read more »
USD/CAD depreciates to near 1.3650 ahead of Canada’s CPIUSD/CAD continues its losing streak that began on June 14, trading around 1.3650 during the European session on Tuesday.
Read more »
USD/CAD slides to 1.3620 on unexpectedly hot Canadian CPI reportThe USD/CAD pair witnesses a sharp sell-off in Tuesday’s New York session.
Read more »