USD/CAD spikes higher to 1.3750 as focus shifts to BoC monetary policy

USD/CAD recovers strongly to 1.3750 as the US Dollar recovers due to higher bond yields. Fed Mester said that policymakers need to be “nimble” amid current economic uncertainties. The BoC is expected to keep interest rates unchanged amid easing labor demand and price pressures. ives strongly as the US Dollar Index finds support near 106.00. S&P500 opens on a bearish note amid dismal market sentiment.

Cleveland Fed Bank President Loretta Mester said that the Fed is at or near the peak to interest rates. She further added that policymakers need to be “nimble” amid current economic uncertainties. On the Canadian Dollar front, investors await the interest rate decision by the Bank of Canada , which will be announced on Wednesday. Easing labor demand and price pressures would allow the BoC to keep interest rates unchanged at 5%.

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 the 1.3700 area, investors await the BoC rate decisionThe USD/CAD pair trades sideways around 1.3715 during the early Asian session on Monday. Investors await the Bank of Canada (BoC) Interest Rate Decisi
Source: FXStreetNews - 🏆 14. / 72 Read more »

USD/CAD hovers above 1.3700 major level after trimming intraday lossesUSD/CAD retraces intraday losses, trading around 1.3710 during the European session on Monday. The pair gains ground as the US Dollar treads waters to
Source: FXStreetNews - 🏆 14. / 72 Read more »

USD/CAD: Loonie’s technical picture has a negative undertoneThe CAD remains soft near recent range lows. Economists at Scotiabank analyze USD/CAD outlook. 1.3785 should remain strong resistance in the week ahea
Source: FXStreetNews - 🏆 14. / 72 Read more »

ECB and BoC policy decisions and global PMIs headline the week's economic agendaECB and BoC policy decisions and global PMIs headline the week's economic agenda
Source: Investingcom - 🏆 450. / 53 Read more »

Weekly forex analysis: EUR/USD, GBP/USD, AUD/USD and more [Video]Weekly forex forecast covers forecast on EUR/USD , GBP/USD , AUD/USD , NZD/USD , USD/CAD , USD/JPY / Gold (XAU/USD) , Bitcoin (BTC/USD) , S&P500 , Cru
Source: FXStreetNews - 🏆 14. / 72 Read more »

Markets Week Ahead: S&P 500, Gold, US Dollar; Powell, ECB, BoC, Australia CPI, Germany Ifo, UK jobsConflict in Middle East and US earnings season are likely to be key drivers of broader market sentiment in the coming week. Currency markets would be watching for cues from Powell speech, European Central Bank and Bank of Canada interest rate decisions.
Source: DailyFX - 🏆 305. / 63 Read more »