The USD/CAD pair trades with mild losses near 1.3630 after bouncing off the two-month lows around 1.3588 during the early Asian session on Friday.
USD/CAD weakens around 1.3630 in Friday’s early Asian session. The softer US June inflation readings increased Fed rate cut bets. The recovery of crude oil prices might cap the pair’s upside. The pair edges lower after the softer-than-expected US inflation readings in June have fueled the expectation of a Federal Reserve rate cut in September, which weighs on the Greenback. US inflation, as measured by the Consumer Price Index , declined 0.
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. 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.
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