The USD/CAD pair attracts some sellers near 1.3560, snapping the two-day winning streak during the early Asian session on Friday.
USD/CAD trades on a weaker note around 1.3560 in Friday’s early Asian session. The speculation of additional rate cuts by the Fed this year continues to undermine the USD. Higher crude oil prices support the commodity-linked Loonie. The Greenback edges lower as investors assessed the prospects of further rate cuts by the US Federal Reserve in the months to come. The Bank of Canada Governor Tiff Macklem will deliver a speech later on Friday.
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. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD.
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 to near 1.3460 as US Dollar edges lower ahead of inflation testThe USD/CAD pair falls to near 1.3460 in Thursday’s Asian session.
Read more »
USD/CAD Price Forecast: 1.3600 remains key resistance for US Dollar bullsThe USD/CAD pair trades in a tight range below the round-level resistance of 1.3600 in Friday’s North American session.
Read more »
USD/CAD holds positive ground near 1.3600 on firmer US DollarThe USD/CAD pair trades in positive territory for a fourth consecutive day near 1.3600 during the early Asian session on Wednesday.
Read more »
USD/CAD faces pressure near 1.3600 as US Dollar weakens ahead of Fed policyThe USD/CAD pair remains below the crucial resistance of 1.3600 in Wednesday’s North American session.
Read more »
USD/CAD: A clear push under 1.3595 targets a drop to 1.3550The Canadian Dollar (CAD) is tracking marginally higher against a generally stronger USD on the session so far but gains are marginal and essentially, spot is holding a tight range just above 1.36—a six week high for the CAD, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Read more »
USD/CAD Price Analysis: Extends losing spree for fourth session ahead of FOMC minutesThe USD/CAD pair tests territory below the round-level support of 1.3600 in Wednesday’s North American session.
Read more »