USD/CAD oscillates in a narrow band and is influenced by a combination of diverging forces. Traders scaled back September Fed rate cut bets after the upbeat US NFP, boosting the USD. An uptick in Crude Oil prices underpins the Loonie and keeps a lid on further gains for the pair. The subdued price action is influenced by a combination of diverging forces, though the fundamental backdrop seems tilted in favor of bullish traders.
This, in turn, is seen underpinning the commodity-linked Loonie and capping the USD/CAD pair. Traders also seem reluctant to place aggressive directional bets ahead of this week's US macro data and central bank event risk. The latest US consumer inflation figures are due for release on Wednesday and will be followed by the outcome of the highly anticipated FOMC monetary policy decision.
Fed Interestrate Inflation Currencies
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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 above 1.3650 ahead of US PPI dataThe USD/CAD pair trades on a stronger note around 1.3675 during the Asian session on Tuesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »
USD/CAD holds positive ground above 1.3650, focus on FedspeakThe USD/CAD pair recovers some lost ground near 1.3680 during the early European session on Monday.
Source: FXStreetNews - 🏆 14. / 72 Read more »
USD/CAD consolidates in a range above mid-1.3600s as traders keenly await US NFPThe USD/CAD pair shows resilience below the 200-hour Simple Moving Average (SMA), albeit seems to struggle to attract any meaningful buyers during the Asian session on Friday.
Source: FXStreetNews - 🏆 14. / 72 Read more »
USD/CAD Price Analysis: Maintains position above 1.3650 due to weakening bearish biasUSD/CAD treads water to continue its gains for the second consecutive session, trading around 1.3680 during the European hours on Wednesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »
USD/CAD remains on the defensive above 1.3600 ahead of the BoC rate cut decisionThe USD/CAD pair remains on the defensive around 1.3620 during the early Asian session on Tuesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »
USD/CAD remains calm above 1.3700 despite weak Canadian Retail SalesThe USD/CAD pair remains unchanged above the crucial support of 1.3700 even though Canadian Retail Sales were weaker-than-expected in March and United States Durable Goods Orders for April beats estimates.
Source: FXStreetNews - 🏆 14. / 72 Read more »