The USD/CAD pair trades in the positive territory around 1.3765 amid the renewed US Dollar (USD) demand on Tuesday during the early Asian trading hours.
USD/CAD holds positive ground near 1.3765 amid firmer US Dollar. US Fed is expected to maintain interest rates steady in the range of 5.25%-5.50 in its June meeting on Wednesday The lower crude oil prices weigh on the commodity-linked Loonie, lifting the pair higher. The USD/CAD pair trades in the positive territory around 1.3765 amid the renewed US Dollar demand on Tuesday during the early Asian trading hours.
The US Consumer Price Index inflation data on Wednesday might offer some hints about the inflation trajectory and future monetary policy outlook. The US headline and CPI figure are estimated to show an increase of 3.4% YoY abd e 3.5% YoY in May. Meanwhile, Crude Oil prices edge lower as OPEC ministers said that they would not increase supply if prices remained weak. It's worth noting that Canada is the dominant source ofcrude oil imports for the United.
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 edges higher above 1.3600 on firmer US Dollar, Fed’s cautious tonesThe USD/CAD pair trades on a stronger note around 1.3620 on Friday during the early Asian trading hours.
Read more »
USD/CAD gathers strength to recapture 1.3800 ahead of Fed policyThe USD/CAD pair clings to gains near 1.3770 in Monday’s New York session.
Read more »
USD/CAD falls toward 1.3700 as US Dollar offers gains ahead of economic dataUSD/CAD halts its four-day winning streak, trading around 1.3720 during the European session on Friday.
Read more »
USD/CAD holds positive ground above 1.3650, focus on FedspeakThe USD/CAD pair recovers some lost ground near 1.3680 during the early European session on Monday.
Read more »
USD/CAD holds above 1.3650 ahead of US PPI dataThe USD/CAD pair trades on a stronger note around 1.3675 during the Asian session on Tuesday.
Read more »
USD/CAD remains calm above 1.3700 despite weak Canadian Retail SalesThe USD/CAD pair remains unchanged above the crucial support of 1.3700 even though Canadian Retail Sales were weaker-than-expected in March and United States Durable Goods Orders for April beats estimates.
Read more »