Canadian Dollar flat lines near 1.3800 ahead of Canadian CPI inflation data
The post Canadian Dollar flat lines near 1.3800 ahead of Canadian CPI inflation data appeared on BitcoinEthereumNews.com. USD/CAD holds steady around 1.3800 in Tuesday’s early Asian session. Trump begins planning for a trilateral meeting with Putin and Zelenskyy. The possibility of a Fed cut in September stays at 83%. The USD/CAD pair extends its ongoing range-bound theme near 1.3800 during the early Asian session on Tuesday. Investors remain cautious as US President Donald Trump begins planning for a trilateral meeting with Russian President Vladimir Putin and Ukrainian leader Volodymyr Zelenskiy. The Canadian July Consumer Price Index (CPI) inflation report will be in the spotlight later on Tuesday. Trump said late Monday that he was working to arrange a meeting between Putin and Zelensky after a summit with Zelensky and European leaders at the White House. Trump further stated that Zelenskiy could end the war, raising the prospect of Kyiv being forced into making unpalatable territorial concessions. Trump’s hopes of achieving an immediate peace deal have given way to much softer suggestions that a partial peace agreement may be reached in the coming weeks. However, any signs of escalating tensions could weigh on the riskier currency, such as the Canadian Dollar (CAD), and create a tailwind for the pair. Traders pared bets on a rate cut at the US Federal Reserve (Fed) meeting on September 16-17 after the Producer Price Index (PPI) inflation was hotter than expected in July, which might support the US Dollar (USD). According to the CME FedWatch tool, Fed fund futures traders are now pricing in an 83% chance of a September rate cut, after last week briefly fully pricing in a move. Traders will closely monitor the Fed’s Jackson Hole symposium later on Friday for rate clues. Meanwhile, a recovery in crude oil prices could lift the commodity-linked Loonie. It’s worth noting that Canada is the largest oil exporter to the US, and higher crude oil prices tend to have…
The post Canadian Dollar flat lines near 1.3800 ahead of Canadian CPI inflation data appeared on BitcoinEthereumNews.com.
USD/CAD holds steady around 1.3800 in Tuesday’s early Asian session. Trump begins planning for a trilateral meeting with Putin and Zelenskyy. The possibility of a Fed cut in September stays at 83%. The USD/CAD pair extends its ongoing range-bound theme near 1.3800 during the early Asian session on Tuesday. Investors remain cautious as US President Donald Trump begins planning for a trilateral meeting with Russian President Vladimir Putin and Ukrainian leader Volodymyr Zelenskiy. The Canadian July Consumer Price Index (CPI) inflation report will be in the spotlight later on Tuesday. Trump said late Monday that he was working to arrange a meeting between Putin and Zelensky after a summit with Zelensky and European leaders at the White House. Trump further stated that Zelenskiy could end the war, raising the prospect of Kyiv being forced into making unpalatable territorial concessions. Trump’s hopes of achieving an immediate peace deal have given way to much softer suggestions that a partial peace agreement may be reached in the coming weeks. However, any signs of escalating tensions could weigh on the riskier currency, such as the Canadian Dollar (CAD), and create a tailwind for the pair. Traders pared bets on a rate cut at the US Federal Reserve (Fed) meeting on September 16-17 after the Producer Price Index (PPI) inflation was hotter than expected in July, which might support the US Dollar (USD). According to the CME FedWatch tool, Fed fund futures traders are now pricing in an 83% chance of a September rate cut, after last week briefly fully pricing in a move. Traders will closely monitor the Fed’s Jackson Hole symposium later on Friday for rate clues. Meanwhile, a recovery in crude oil prices could lift the commodity-linked Loonie. It’s worth noting that Canada is the largest oil exporter to the US, and higher crude oil prices tend to have…
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