The USD/CAD pair flat lines near 1.3860 during the early Asian session on Friday.
USD/CAD trades flat around 1.3860 in Friday’s early Asian session. The Fed decided to cut the interest rate by a quarter percentage point on Thursday. The Canadian employment report will be closely watched. The Greenback faces some selling pressure after the US Federal Reserve's interest rate decision. Later on Friday, the advanced Michigan Consumer Sentiment and the Fed’s Bowman speech will be in the spotlight, along with the Canadian employment report.
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.
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