USD/CAD loses traction above the 1.3200 mark, US GDP eyed – by lilyfinancial USDCAD Majors
The Fed hiked its rate by 25 basis points to a target range of 5.25%–5.5%.
Market players anticipated that the BoC will likely not see the need to raise rates further this year.pair struggles to gain and loses momentum above the 1.3200 mark during the early Asian session on Thursday. The major pair currently trades around 1.3204, down 0.03% for the day. The US Dollar is weakening following the Federal Open Market Committee meeting.
The Federal Open Market Committee hiked its interest rate by a quarter percentage point to a target range of 5.25%–5.5%, a move markets had fully priced in. This is the 11th rate hike since the FOMC began tightening policy in March 2022.stated that the FOMC will assess the totality of incoming data, along with its implications for economic activity and inflation. He added that it's possible to raise the fed funds rate again at the September meeting if the data warrants it.
The data released earlier this week revealed that the Conference Board's Consumer Confidence Index rose to 117 in July from 110.1 in June. On the same line, the House Price Index for May YoY came in at 2.8%, above expectations of 2.6% but below the prior month's data. Investors will digest the data from the Fed meeting and take cues from theOn the Canadian Dollar front, the Bank of Canada increased interest rates by 25 basis points to a 22-year high of 5.0% on July 12.
In the meantime, the Canadian Dollar might attract some follow-through buying amid upbeat oil prices. It’s worth noting that Canada is the leadingLooking ahead, market participants will focus on the release of US Advanced QoQ, core Personal Consumption Expenditure Price Index MoM, Durable Goods Orders, and Initial Jobless Claims data later in the day. Also, the Canadian Gross Domestic Product for May MoM will be due on Friday. These data could give the USD/CAD pair a clear direction.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
USD/CAD pares recent losses below 1.3200 as WTI crude oil retreats, US Dollar edges higherUSD/CAD licks its wounds near 1.3175-80 after marking the biggest daily loss in eight days. In doing so, the Loonie pair justifies the latest retreat
Les mer »
USD/CAD struggles near multi-day low, around mid-13100s amid bullish Oil prices/softer USDUSD/CAD struggles near multi-day low, around mid-13100s amid bullish Oil prices/softer USD – by hareshmenghani USDCAD China Fed Majors Currencies
Les mer »
USD/CAD: Consolidation ahead of a renewed push lower in the days ahead – ScotiabankUSD/CAD trades little changed after another test of 1.3150. Economists at Scotiabank analyze the pair’s outlook. Gains should remain capped around the
Les mer »
USD/CAD Price Analysis: Recovery faces resistance at 1.3200, as the downtrend remains intactUSD/CAD Price Analysis: Recovery faces resistance at 1.3200, as the downtrend remains intact – by christianborjon USDCAD Majors Currencies Technical Analysis
Les mer »
USD/CAD: Lower Realms in Sight as Price Velocity ThreatensThe USDCAD remains within the lower part of its mid-term price range and tomorrow’s Fed FOMC Statement may cause volatility to erupt for speculators- Forex Forecast
Les mer »