USD/CAD extends gains on the second day, trading in a positive territory around 1.3600 during the Asian session on Thursday. The pair is receiving upw
USD/CAD continues to gain after robust US wholesale inflation data. US CPI suggests a decrease in the annual rate for September. Downbeat Crude oil prices contribute to pressure on the Canadian Dollar. ard support after robust economic data from the United States and the disclosure of the Federal Open Market Committee meeting minutes. US Producer Price Index rose in September, increasing from 2.0% to 2.2%, surpassing the anticipated 1.6%.
Fed Governor Christopher Waller has suggested a watchful approach to rate developments, noting that financial markets tightening "would do some of the work for us." Meanwhile, Fed Governor Michelle Bowman has expressed a preference for another rate hike, citing inflation persisting above the Fed's 2% target. The contrasting views within the Fed contribute to the complexity of the current economic landscape. The US Dollar Index struggling to hold ground around 105.
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