The USD/CAD pair struggles to capitalize on the previous day's positive move and seesaws between tepid gains/minor losses, below mid-1.3700s during the Asian session on Friday.
USD/CAD oscillates in a range and is influenced by a combination of diverging forces. The recent strong rally in Oil prices underpins the Loonie and caps gains for the major. Fed rate cut expectations keep the USD bulls on the defensive and act as a headwind. The USD/CAD pair struggles to capitalize on the previous day's positive move and seesaws between tepid gains/minor losses, below mid-1.3700s during the Asian session on Friday.
assurance to keep production low to support prices, which helped ease concerns about higher supplies. further clarified that any increase in production would be largely dependent on Oil prices and also maintained its annual demand growth forecast, citing improved prospects in the wake of eventual lowering in global interest rates. This, in turn, continues to lend support to the black liquid, which underpins the commodity-linked Loonie and acts as a headwind for the USD/CAD pair.
OPEC Fed Interestrate Currencies
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 above mid-1.3700s, near its highest level since early MayThe USD/CAD pair struggles to capitalize on the post-NFP move up and seesaws between tepid gains/minor losses, just above mid-1.3700s during the Asian session on Monday.
Read more »
USD/CAD rises toward 1.3700 ahead of US PCE, Canada’s GDPUSD/CAD halts its recent losses, trading around 1.3690 during the Asian session on Friday.
Read more »
USD/CAD trades with modest losses around mid-1.3700s, focus remains on US CPI and FedThe USD/CAD pair edges lower during the Asian session on Wednesday and currently trades around mid-1.3700s, though the downtick lacks bearish conviction.
Read more »
USD/CAD trades with modest losses below 1.3650, eyes on Canadian/US PMI dataThe USD/CAD pair trades with a mild bearish bias around 1.3625 during the early European session on Monday.
Read more »
USD/CAD weakens below 1.3650, eyes on FOMC MinutesThe USD/CAD pair weakens to 1.3640 amid the US Dollar (USD) consolidation on Wednesday during the early European session.
Read more »
USD/CAD extends its downside below 1.3610 ahead of Canadian CPI data.The USD/CAD pair extended its downside around 1.3605 during the early European session on Monday.
Read more »