The USD/CAD pair holds gains near a fresh more than four-year high at 1.4245 in Friday’s European session.
USD/CAD grips gains near a fresh four-year high at 1.4245 as the US Dollar performs strongly. The Fed is widely anticipated to cut interest rates by 25 bps on Wednesday. The Canadian economic outlook has weakened amid worries over likely import tariffs by US Trump. The Loonie pair strengthens as the US Dollar performs strongly against its major peers on expectations that the Fed eral Reserve could pause its policy-easing cycle in January after cutting interest rates by 25 basis points to 4.25%-4.
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. 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.
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 holds above 1.4200 as hot US PPI boosts US DollarThe USD/CAD pair posts modest gains to near 1.4215 during the early Asian session on Friday.
Read more »
USD/CAD holds below 1.4050 on softer US DollarThe USD/CAD pair edges lower to near 1.4025 during the early Asian session on Thursday.
Read more »
USD/CAD holds key support of 1.3950 as US Dollar resumes upsideThe USD/CAD pair ticks down but holds the immediate support of 1.3950 in Thursday’s North American session.
Read more »
USD/CAD holds positive ground above 1.3950 on bullish US DollarThe USD/CAD pair trades with mild gains around 1.3975 during the early Asian session on Friday.
Read more »
USD/CAD attracts some sellers below 1.3950 on softer US DollarThe USD/CAD pair drifts lower to around 1.3945 during the Asian session on Monday.
Read more »
USD/CAD rises to near 1.4040, tracks US Dollar’s action ahead of US NFP dataThe USD/CAD pair gains to near 1.4040 in European trading hours on Friday.
Read more »