The USD/CAD pair falls to near the psychological support of 1.4000 in European trading hours on Thursday despite a decent recovery move in the US Dollar (USD).
USD/CAD ticks lower as the Canadian Dollar gains on expectations of healthy trade negotiations with the US. Economists expect the Canadian economy to have grown by 1% in the third quarter of the year. The US Dollar recovers amid quiet trade on account of Thanksgiving Day. The USD/CAD pair falls to near the psychological support of 1.4000 in European trading hours on Thursday despite a decent recovery move in the US Dollar .
According to the CME FedWatch tool, there is a 70% chance that the Fed will cut interest rates by 25 basis points to 4.25%-4.50% next month, according to the CME FedWatch tool.
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