The USD/CAD pair trades in a tight range near the round-level resistance of 1.3800 in Friday’s European session.
USD/CAD trades sideways near 1.3800 as investors await Fed speakers for more guidance on interest rates. The Fed is expected to follow a moderate rate-cut path. Investors expect the BoC to cut interest rates again to revive job growth. The Loonie pair trades sideways as investors await speeches from a slew of Fed eral Reserve officials, who are scheduled to speak in the North American session.
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.
BOC Fed Dollarindex Employment
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 steady below 1.3500 ahead of Fed’s Powell speechThe USD/CAD pair flatlines around 1.3485 after retracing to 1.3420, the lowest level since March 8, during the early Asian session on Thursday.
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 Gathers Strength Near 1.3620 As Traders Scale Back Bets On Aggressive Fed Rate CutsThe USD/CAD pair surged towards 1.3620 in early Asian trading on Tuesday, fueled by strong US job data that prompted traders to reduce expectations of aggressive Federal Reserve rate cuts.
Read more »
USD/CAD consolidates below 1.3600 as investors look for fresh Fed interest rate cuesThe USD/CAD pair trades sideways below the crucial resistance of 1.3600 in Friday’s North American session.
Read more »
USD/CAD remains subdued near 1.3450 as traders expect more Fed rate cuts in this yearUSD/CAD hovers around 1.3430 during the early European hours on Wednesday.
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 »