USD/CAD holds position above 1.3500 near five-month low
USD/CAD is struggling to hold its position after recovering from a five-month low of 1.3498 recorded on Monday. The US dollar lost value due to Fed Chairman Powell’s dovish speech at the Jackson Hole Symposium. The commodity-dependent CAD could rise…
USD/CAD weakens near 1.3500 as Fed chief Powell signals rate cut for September
USD/CAD remains on the defensive at 1.3510 in Monday’s Asian session. Powell’s dovish speech in Jackson Hole weighs on the US dollar. Canadian retail sales fell 0.3% MoM in June (vs. -0.8%), in line with market sentiment. The USD/CAD pair…
Appears vulnerable near multi-week low ahead of Canadian consumer price index
USD/CAD falls to a new multi-week low despite a combination of supportive factors. Falling crude oil prices and a modest recovery in the US dollar are doing little to ease downward pressure. Traders are hoping that Canada’s Consumer Price Index…
USD/CAD jumps to nearly 1.3740 after strong US retail sales and lower unemployment figures
USD/CAD rises to near 1.3740 as the US dollar recovers after positive US data. Retail sales in the US rose sharply by 1 percent and the number of initial jobless claims was lower than expected. A significant recovery in oil…
USD/CAD remains near multi-week low, flirts with 1.3700 ahead of US macro data
USD/CAD is struggling to capitalize on the previous day’s modest recovery from multi-week lows. Dovish Fed expectations and positive risk sentiment are weighing on the USD and limiting the pair’s gains. A rise in crude oil prices supports the Loonie…
USD/CAD remains near 1.3700 after expected decline in US inflation
USD/CAD is little changed at 1.3700 following the release of the US CPI report for July. Inflation data showed that price pressures eased year-on-year, as expected. The BoC is expected to cut interest rates for the third consecutive time. The…
USD/CAD hovers near multi-week low, Canadian labor market data provides new impetus
USD/CAD remains weak for the fifth consecutive day ahead of Canadian labor market data. Rising oil prices are supporting the loonie and weighing on the pair amid a slight decline in the USD. Spot prices are expected to record weekly…
USD/CAD recovers to nearly 1.3750 ahead of Canadian employment data
USD/CAD rose slightly to near 1.3740 in early Asian trading on Friday. The recovery of the US dollar is supported by the positive initial claims in the US last week. On Friday, Canadian employment data will be in focus. The…
USD/CAD remains near two-week low on weaker USD, falling oil prices offer support
USD/CAD remains under some selling pressure for the fourth consecutive day on Thursday. Cautious Fed expectations and falling US bond yields are weighing on the USD and exerting some pressure. A slight decline in oil prices could weaken the loonie…
USD/CAD extends downtrend at 1.3750, US initial jobless claims and geopolitical risks in sight
USD/CAD is trading weaker at around 1.3755 in the early Asian session on Thursday. The Governing Council saw a risk that consumer spending could be significantly weaker than expected in 2025 and 2026. Traders will be watching the weekly initial…
