The USD/CAD pair recovers Tuesday’s sell-off and returns above the key figure of 1.3900 in North American trading hours on Wednesday.
USD/CAD bounces back above 1.3900 as Trump’s victory strengthens the US Dollar. Investors expect the Fed to cut interest rates by 25 bps to 4.50%-4.75%. The BoC delivered a bigger rate cut due to slowing inflation and weak labor demand. The Loonie pair strengthens as the US Dollar looks set to register highest gains in single trading day in more than four years. The US Dollar Index , which discovers Greenback’s value against six major currencies, posts a fresh four-month high near 105.40.
Other factors include market sentiment – whether investors are taking on more risky assets or seeking safe-havens – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another.
BOC Fed US Elections Dollarindex
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 bounces back as Canadian Dollar weakens, US elections take center stageThe USD/CAD pair recovers half of its intraday losses after discovering significant buying interest around the key support of 1.3900.
Read more »
USD/CAD reclaims seven-week high near 1.3650 amid weak Canadian DollarThe USD/CAD pair recaptures a seven-week high near 1.3650 in Tuesday’s European session.
Read more »
USD/CAD posts modest gains to near 1.3800 on firmer US DollarThe USD/CAD pair trades with mild gains around 1.3795 during the early Asian session on Friday.
Read more »
Canadian Dollar continues losing as markets bet on a dovish Bank of CanadaThe USD/CAD pair moved higher on Monday as positive sentiment toward the US Dollar prevailed.
Read more »
USD/CAD Price Forecast: Moves above 1.3800 ahead of upper boundary of ascending channelUSD/CAD continues its upward momentum, extending the rally that began on October 2, trading near 1.3810 during early European hours on Tuesday.
Read more »
USD/CAD posts modest gains above 1.3700 ahead of US CPI dataThe USD/CAD pair trades with mild gains to around 1.3710 despite the stronger US Dollar (USD) during the early Asian session on Thursday.
Read more »