USD/CAD retraces its recent gains from the previous two sessions, trading around 1.3670 during Monday’s European hours.
USD/CAD loses ground following the dovish comments from the Fed officials. San Francisco Fed President Mary Daly emphasized that the US central bank should reduce rates gradually. The upside of the commodity-linked CAD could be retrained due to lower crude Oil prices. This downside is attributed to the tepid US Dollar following dovish comments from Federal Reserve officials regarding their policy stance.
Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar are the level of interest rates set by the Bank of Canada , the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports.
Majors Macroeconomics Canada Oil
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 drops below 1.3750 as traders bet on more Fed rate cutThe USD/CAD pair trades in negative territory for the fourth consecutive day around 1.3730 during the early European session on Thursday.
Read more »
USD/CAD holds below 1.3900 on dovish Fed bets, eyes on US PMI dataThe USD/CAD pair posts modest gains near 1.3880 during the early European trading hours on Monday.
Read more »
USD/CAD edges lower as firm Fed rate-cut prospects weigh on US DollarThe USD/CAD pair falls slightly but holds key support of 1.3700 in Friday’s New York session.
Read more »
USD/CAD remains weak near 1.3800 after Fed holds rate steadyThe USD/CAD pair trades on a softer note near 1.3805 during the early Asian session on Thursday.
Read more »
USD/CAD depreciates to near $75.50 due to a recovery in Oil prices, Fed decision awaitedUSD/CAD extends its losses after retreating from an eight-month high of 1.3865 on Monday, trading around 1.3840 during the Asian session on Wednesday.
Read more »
USD/CAD holds steady near 1.3850, all eyes on Fed rate decisionThe USD/CAD pair trades flat around 1.3850 during the early Asian session on Tuesday.
Read more »