USD/CAD sees more weakness below 1.3550 as lower US PCE weakens US Dollar Index – by Sagar_Dua24 USDCAD Fed Oil SEO DollarIndex
and his teammates are putting their blood and sweat into achieving price stability in the United States economy. Inflation is still roaring, however, a gradual slowdown in the inflationary pressures on a recurring basis is delighting the Fed policymakers.
The headline PCE dropped to 5.5% while the street was expecting a drop of 5.3% but remained significantly lower than the former release of 6.1%. While the core PCE Price Index remained in line with the estimates of 4.7% and lower than the prior release of 5.0%. This has cemented expectations of further decline in the United States inflation ahead.
This may compel the Federal Reserve to go light on the interest rates by looking for a smaller rate hike. Also, a continuous decline in the overall demand could result in a lower interest rate peak by the Fed.prices have extended their upside journey and have crossed the psychological hurdle of $80.00 on escalating supply worries after Russia warned of supply cuts to offset the price cap imposed by G7 nations along with the European Union.
It is worth noting that Canada is a leading exporter of oil to the United States and higher oil prices support the
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