USD/CAD finds an intermediate cushion around 1.3380 ahead of Canada’s Inflation – by Sagar_Dua24 USDCAD Fed BOC Inflation DollarIndex
a confident recovery to defend further downside. A supportive move to the Loonie asset has come from theS&P500 futures have generated nominal losses in the Tokyo session after a bullish settlement on Monday, portraying a minor caution in the overall upbeat market mood. Investors should brace for sheer volatility in United States equities as banking
will report their quarterly results and any sort of impact of banking turmoil on their asset quality.further to tame stubborn inflation. No doubt, US labor market conditions have eased and headline inflation has softened, the core inflation is still persistent and demands more restrictions on the interest rate policy.
The Canadian Dollar is likely to dance to the tunes of Canada’s inflation data. As per the expectations, the headline inflation will decelerate to 4.3% from the prior release of 5.2%. However, the monthly headline figure is seen expanding by 0.6% against an expansion of 0.4%, reported earlier. Core CPI that excludes oil and food prices would soften to 4.2% vs. the former release of 4.7%. This may allow the Bank of Canada Governor Tiff Macklem to continue its unchanged policy stance.have attempted a recovery after $81.00 after the release of upbeat China’s Gross Domestic Product data. It is worth noting that Canada is the leading exporter of oil to the United States and a recovery in oil prices will support the Canadian Dollar.
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