USD/CAD bounces off multi-week lows near 1.3300 – by pabspiovano USDCAD Canada Currencies Majors
US Consumer Sentiment comes next in the docket.
The pair, in the meantime, remained apathetic after US inflation figures showed the headline PCE rose 5.0% in the year to December and the Core PCE gained 4.4% over the last twelve months .saw Personal Income expand 0.2% MoM in the last month of 2022 and Personal Spending shrank 0.2% vs. the previous months. Later in the session, US Pending Home Sales are due along with the final print of the Michigan Consumer Sentiment for the current month.
In addition, spot remains en route to close the sixth consecutive week with losses, although the 1.3300 region seems to have emerged as a tough support for the time being.prices and the recent rate hike by the BoC . It is worth recalling that the BoC matched consensus and raised the policy rate by 25 bps to 4.50%, although it signaled that extra rate hikes are now unlikely in a context of easing inflation and some loss of momentum in the economic activity.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD Price Analysis: Off multi-month-old support line but upside remains capped below 1.3380USD/CAD Price Analysis: Off multi-month-old support line but upside remains capped below 1.3380 USDCAD Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
USD/CAD hits weekly highs near 1.3425 after BoC decisionThe USD/CAD jumped by more than 50 pips after the decision of the Bank of Canada and climbed to 1.3425, reaching the highest level since last Friday.
Read more »
USD/CAD to stay way above 1.3400 despite recovery attempt by USD IndexThe USD/CAD pair has corrected marginally after a recovery move from 1.3380 in the Asian session. The Loonie asset is looking to shift its business ab
Read more »
USD/CAD: At risk of a test into 1.3500/25 near-term – TDSUSD/CAD is moving up and down in a narrow channel at around 1.3390. Economists at TD Securities expect the pair to test the 1.3500/20 zone in the shor
Read more »
USD/CAD sticks to gains around 1.3400, upside potential seems limited ahead of US GDPThe USD/CAD pair attracts some buying for the second straight day on Thursday and sticks to its modest intraday gains through the early European sessi
Read more »
USD/CAD hangs near daily low, below 1.3400 mark ahead of key US GDP reportThe USD/CAD pair struggles to capitalize on its modest intraday gains and retreats to the lower end of the daily range, below the 1.3400 mark heading
Read more »