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USD/CAD Outlook: BoC Governor’s Remarks Lift Canadian Dollar
Article By:
Yohay Elam
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Friday, May 3, 2024 10:41 AM EDT
The BoC might wait on a clearer Fed policy outlook to avoid a big divergence. Canada recorded a surprise trade deficit of C$ 2.28 billion in March. US equities rallied a day after the Fed held rates and sounded less hawkish than expected.
Canada’s Trade Performance Is A Drag On The Economy
Article By:
Norman Mogil
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Thursday, May 2, 2024 3:00 PM EDT
Roughly, one-third of Canada’s GDP comes from the external sector, and so when that sector stumbles, the rest of the economy will do the same.
In this article: EWC
USD/CAD Falls To Near 1.3700 Amid Higher Crude Oil Prices, Risk-On Mood
Article By:
Akhtar Faruqui
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Thursday, May 2, 2024 5:10 AM EDT
USD/CAD gained ground as the US Dollar struggled after Fed Powell dismissed the speculation of further rate hikes. The improved market sentiment supports risk-sensitive currencies like the Canadian Dollar.
USD/CAD Extends Its Downside Below 1.3750 On A Softer US Dollar
Article By:
Lallalit Srijandorn
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Wednesday, May 1, 2024 10:50 PM EDT
The USD/CAD pair extends its downside around 1.3730 during the early Asian trading hours. The downtick of the pair is backed by the weaker US Dollar Index (DXY) to 105.75.
USD/CAD Price Analysis: Evident Policy Outlook Divergence
Article By:
Yohay Elam
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Wednesday, May 1, 2024 8:31 AM EDT
Data from Canada revealed a smaller-than-expected 0.2% expansion in the economy. Investors are currently placing a 60% chance the BoC will cut rates in June. While investors expect 54bps of cuts in Canada, they only expect 32bps in the US.
USD/CAD Analysis: Anxious Speculative Wagers As Higher Realms Touched
Article By:
Robert Petrucci
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Wednesday, May 1, 2024 8:13 AM EDT
Another dose of nervousness has hit USD/CAD traders as the currency pair tests short-term highs and is within grasp of apex values seen in the middle of April.
May Day Fed Day
Article By:
Marc Chandler
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Wednesday, May 1, 2024 7:19 AM EDT
Much of Asia and Europe are off for the May Day labor holiday. The dollar is mostly softer in the thin activity. However, the dollar has edged higher against the yen to approached JPY158.
USD/CAD Price Analysis: Holds Position Above 1.3750 Amid Resurging Bullish Sentiment
Article By:
Akhtar Faruqui
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Wednesday, May 1, 2024 4:51 AM EDT
USD/CAD may continue to advance as technical analysis suggests a resurgence of bullish sentiment. A break above the 1.3800 level might propel the pair to revisit its five-month high of 1.3846.
USD/CAD Weekly Forecast: Slowing US Economy Dents Dollar
Article By:
Yohay Elam
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Saturday, April 27, 2024 8:19 PM EDT
Several economic reports from the US pointed to a slowdown in the economy. US business activity fell in April, showing the impact of higher interest rates. Investors will focus on the FOMC meeting and the jobs report from the US.
Week Ahead: FOMC, US Jobs, EMU Inflation, JPY Pressure
Article By:
Marc Chandler
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Saturday, April 27, 2024 1:00 PM EDT
The backing up of US rates did not broadly lift the dollar as it appeared to have done previously. The dollar-bloc currencies, led by the Australian dollar, advanced last week, while the Swiss franc and Japanese yen were unable to find traction.
USD/CAD Extends Its Downside Below 1.3670, Investors Await US PCE Data
Article By:
Lallalit Srijandorn
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Thursday, April 25, 2024 8:30 PM EDT
The USD/CAD pair extends its downside near 1.3655 on Friday during the early Asian session. The decline of the US Dollar (USD) to the two-week lows around the mid-105.00s exerts some selling pressure on the pair.
