The USD/CAD pair trades in positive territory for a fourth consecutive day near 1.3600 during the early Asian session on Wednesday.
USD/CAD strengthens around 1.3600 in Wednesday’s early Asian session. Traders are pricing in nearly 60% odds of a 50 bps Fed rate cut. Canadian CPI rose 2.0% YoY in August vs. 2.5% prior, softer than expected. The US Dollar gains ground after thebetter-than-expected Retail Sales data. Traders brace for the Federal Reserve interest rate decision on Wednesday, which is widely anticipated to lower itsinterest rate for the first time in more than four years.
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.
Majors Macroeconomics Canada CPI
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