USD/CAD is facing strong resistance at the 200-day EMA near 1.3625 as bulls attempt a recovery. With US economic data, Fed outlook, and crude oil prices in focus, the pair’s next move hinges on breaking above this key barrier or retreating toward support around 1.3565. #ForexAnalysis #USDCAD
USD/CAD remains capped by the 200-day EMA near 1.3640, as technical resistance limits bullish momentum despite supportive US economic data. Oil prices above $90 bolster the Canadian dollar, while Fed’s stance on rates sustains USD strength. Watch for a break above 1.3660 for upside potential or a drop below 1.3550 signaling deeper losses.
Insights based on Anil Panchal’s FXStreet analysis, supplemented with data from Investing.com, DailyFX, and Bloomberg.
DXY holds steady near six-month highs around 105 as markets await key US inflation data. Sticky inflation and a robust labor market keep the dollar supported amid expectations for a delayed Fed rate cut. Attention now on CPI and PPI releases to guide the next Fed move.
Markets price a 90% chance of a 25bps rate cut from the Bank of Canada in September as inflation cools and economic growth slows. With GDP momentum fading and the labor market easing, analysts debate the pace of further easing into 2025 and its impact on the CAD and inflation outlook. Understanding these dynamics is key to anticipating the BoC’s next moves. #BoC #InterestRates #CAD
The Canadian dollar has weakened recently amid weaker-than-expected employment data and easing inflation pressures, prompting the Bank of Canada to signal flexibility in future rate cuts. With a cooling labor market and inflation trending down toward target, the CAD faces uncertain prospects for mid-2024 as markets price in a gradual BoC easing cycle.
The U.S. Dollar Index (DXY) rebounds modestly from last week’s dip amid bearish pressure driven by mixed inflation signals and weaker U.S. labor data. This recovery impacts major pairs: EUR/USD faces resistance near 1.0800, GBP/USD struggles for upside momentum, USD/CAD remains sensitive to oil prices, and USD/JPY edges higher on safe-haven demand. Diverging central bank policies and geopolitical risks continue to shape USD strength outlook.
The US Dollar Index rose to 105.07, marking gains in eight of the last nine weeks as investor confidence grows ahead of key economic data. Strong US jobs and inflation reports, alongside global economic uncertainties, support expectations that the Fed will keep interest rates higher for longer.
Australian dollar faces downward pressure as risk sentiment weakens and global economic uncertainty grows. Diverging RBA and Fed policies, along with China’s sluggish demand, keep AUD/USD range-bound near 0.6450–0.6500. Watch for shifts in inflation and stimulus for next moves.
USD/CAD remains above 1.3800 but lacks clear bullish momentum as the US dollar weakens. Softer US labor data and lower Treasury yields temper gains, while modest oil price recovery supports the Canadian dollar. Market awaits key economic data for fresh direction.
USD/CAD remains steady above 1.3800 but lacks strong upward momentum amid broad USD weakness. A softer US Dollar — pressured by moderating Treasury yields, cautious Fed commentary, and mixed economic data — is limiting gains. Meanwhile, CAD holds firm supported by resilient oil prices and anticipation of the Bank of Canada’s upcoming rate decision. Traders stay watchful amid ongoing macro uncertainties.
