Rabobank forecasts the USD/CAD will trade between 1.34 and 1.36 as the interest rate gap between the US and Canada narrows. With the Federal Reserve and Bank of Canada moving in closer alignment, the loonie could strengthen while US dollar momentum eases.
Major European stock indices closed mostly higher, driven by gains in technology, industrials, and luxury sectors. The UK’s FTSE 100 lagged, weighed down by weaker energy stocks and a stronger pound. Market optimism fueled by stabilizing rate outlooks and solid corporate earnings lifted sentiment across the continent despite mixed economic signals.
USD/CAD remains range-bound between key technical levels—100- and 200-hour moving averages near 1.3669 and 1.3705—reflecting market indecision amid mixed US and Canadian data, divergent Fed and BoC policies, and oil price volatility. Watch for a breakout signaling the next directional move. #Forex #USDCAD
The U.S. Dollar recovered from weekly lows on Friday, supported by stronger-than-expected inflation and consumer sentiment data that reinforced expectations for the Fed to keep rates elevated longer. EUR/USD and GBP/USD weakened as political and economic uncertainties weighed on Europe and the UK, while USD/JPY and USD/CAD gained amid safe-haven flows and commodity price fluctuations. Market eyes remain on upcoming central bank decisions and economic reports for further direction. Analysis expands on James Hyerczyk’s report with latest data from Bloomberg, Reuters, and CNBC.
USD/CAD edged down toward 1.3730 amid dovish signals from Fed officials hinting at potential rate cuts later this year. Market sentiment shifts as inflation progress and softer US labor data increase bets on Fed easing. Meanwhile, stabilizing oil prices offer support to the Canadian dollar. Watch upcoming economic reports for clues on the pair’s next move. #Forex #USDCAD #FederalReserve
USD/CAD edges down to 1.3730 amid rising expectations that the Federal Reserve will begin cutting interest rates later in 2024. Recent dovish remarks from Fed officials and softer US economic data are fueling speculation of a policy pivot. Meanwhile, firm crude oil prices and steady Bank of Canada policy are supporting the Canadian dollar. Market participants weigh these crosscurrents as Treasury yields retreat and inflation signals remain mixed. The USD/CAD technical outlook points to potential further downside if Fed rate cuts gain market traction. Traders should watch key economic releases and central bank commentary for direction this week.
USD/CAD retreats toward 1.3730 amid growing Fed signals favoring interest rate cuts in 2024. Softer U.S. labor data and easing inflation bolster expectations for monetary easing, while a stable Canadian economy and firm crude oil prices support the loonie. Market focus sharpens on central bank moves as year-end approaches. Reported by FXStreet, contributed by Arslan Butt.
USD/CAD drops toward 1.3730 as Fed officials signal potential rate cuts in 2024. Weaker U.S. payrolls and dovish Fed remarks weigh on the dollar, while the Canadian dollar gains support from stable oil prices and economic recovery. Markets await key inflation data and further Fed guidance.
USD/CAD slides toward 1.3730 amid dovish Fed signals hinting at rate cuts in 2024. Market recalibrates expectations as Fed officials emphasize easing monetary policy, while stronger oil prices offer support to the Canadian dollar. Key US data releases this month will be pivotal. Report by FXStreet News.
USD/CAD holds steady below 1.3750 as markets await the Fed Chair nomination. Traders remain cautious amid strong U.S. jobs data, persistent inflation, and uncertainty over the Federal Reserve’s future leadership. Meanwhile, softer Canadian economic data and lower oil prices keep the loonie under pressure.
