USD/CAD holds above the 1.3700 area, investors await the BoC rate decision
The post USD/CAD holds above the 1.3700 area, investors await the BoC rate decision appeared on BitcoinEthereumNews.com. USD/CAD remains flat around 1.3715 in the Asian session on Monday. Bank of Canada (BoC) is likely to hold the rate unchanged for the remainder of the year. Federal Reserve (Fed) officials expressed a desire to hold rates unless inflation rises. Investors will closely monitor the Bank of Canada (BoC) Interest Rate Decision on Wednesday. The USD/CAD pair trades sideways around 1.3715 during the early Asian session on Monday. Investors await the Bank of Canada (BoC) Interest Rate Decision on Wednesday, which is expected to hold the rate at 5.0%. Meanwhile, A rise in US Treasury bond yields and the escalating geopolitical tensions in the Middle East might boost the US Dollar (USD) and weigh on the pair. The market anticipates the Bank of Canada (BoC) to maintain the interest rate for the remainder of the year and is expected to cut the rate in the second quarter of 2024. Meanwhile, a decline in oil prices undermines the commodity-linked Loonie as the country is the leading oil exporter to the US. Last week, the Canadian headline Consumer Price Index (CPI) decelerated to 3.8% YoY in September from 4% in the previous month, meeting the market expectation. The BoC CPI, which excludes volatile food and energy prices, surged 2.8% in September versus 3.3% prior. The figures showed an easing in inflationary pressure in the Canadian economy. On the other hand, the Federal Open Market Committee (FOMC) enters its blackout period. Atlanta Federal Reserve (Fed) President Raphael Bostic said on Friday that he doesn’t think that the US central bank will cut the rate before the middle of next year. Fed Philadelphia President Patrick Harker reiterated his preference to keep interest rates unchanged. While Fed Cleveland President Loretta Mester said the US central bank is “at or near the peak of the…
The post USD/CAD holds above the 1.3700 area, investors await the BoC rate decision appeared on BitcoinEthereumNews.com.
USD/CAD remains flat around 1.3715 in the Asian session on Monday. Bank of Canada (BoC) is likely to hold the rate unchanged for the remainder of the year. Federal Reserve (Fed) officials expressed a desire to hold rates unless inflation rises. Investors will closely monitor the Bank of Canada (BoC) Interest Rate Decision on Wednesday. The USD/CAD pair trades sideways around 1.3715 during the early Asian session on Monday. Investors await the Bank of Canada (BoC) Interest Rate Decision on Wednesday, which is expected to hold the rate at 5.0%. Meanwhile, A rise in US Treasury bond yields and the escalating geopolitical tensions in the Middle East might boost the US Dollar (USD) and weigh on the pair. The market anticipates the Bank of Canada (BoC) to maintain the interest rate for the remainder of the year and is expected to cut the rate in the second quarter of 2024. Meanwhile, a decline in oil prices undermines the commodity-linked Loonie as the country is the leading oil exporter to the US. Last week, the Canadian headline Consumer Price Index (CPI) decelerated to 3.8% YoY in September from 4% in the previous month, meeting the market expectation. The BoC CPI, which excludes volatile food and energy prices, surged 2.8% in September versus 3.3% prior. The figures showed an easing in inflationary pressure in the Canadian economy. On the other hand, the Federal Open Market Committee (FOMC) enters its blackout period. Atlanta Federal Reserve (Fed) President Raphael Bostic said on Friday that he doesn’t think that the US central bank will cut the rate before the middle of next year. Fed Philadelphia President Patrick Harker reiterated his preference to keep interest rates unchanged. While Fed Cleveland President Loretta Mester said the US central bank is “at or near the peak of the…
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