USD / CAD – Canadian Dollar Rally Stalls
The USD/CAD Canadian Dollar is on the rise, with a focus on US inflation numbers and upcoming jobs data. The recent US April inflation data showed a slight increase, but analysts are cautious about pushing expectations for rate cuts forward. The probability of a September rate cut has risen to 70%, leading to a decline in the US 10-year Treasury yield. The market is also keeping an eye on weekly jobless claims data to gauge the state of the labor market.
In addition to economic data, there are other factors influencing the rate outlook, including speeches by FOMC policymakers and various economic releases. The EUR/USD and GBP/USD pairs are trading cautiously, while USD/JPY is under pressure due to lower US Treasury yields and weak Japanese GDP data. On the other hand, AUD/USD has seen a boost from better-than-expected unemployment data.
Overall, the market remains uncertain about the future direction of the USD/CAD Canadian Dollar, with various economic indicators and external factors influencing trading activity. Investors are advised to stay informed and cautious in their trading decisions.
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