USD/CAD Steady as Markets Await Key US Inflation Report
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3690-1.3930
Euro 1.5530-1.5760
Sterling 1.8500-1.8720
WTI Oil (opening level) $61.60
The CAD/USD is opening at 1.3808 ( 0.7242 )
USD/CAD saw a positive traction on Friday and reverses a part of the previous day's retracement slide from the 1.3860 area, or a one-week high. Spot prices stick to modest intraday gains around the 1.3815 region heading into the European session as traders keenly await the release of the crucial US Personal Consumption Expenditure Price Index.
The US inflation report will play a key role in influencing market expectations about the Federal Reserve's rate-cut path, which, in turn, will drive the USD demand and provide a fresh directional impetus to the USD/CAD pair. In the meantime, some repositioning trade assists the USD to attract some dip-buyers following Thursday's dramatic turnaround. Apart from this, weaker Crude Oil prices undermine the commodity-linked Loonie and act as a tailwind for the currency pair.
Any meaningful USD appreciation, however, still seems elusive in the wake of concerns about the worsening US fiscal situation. Furthermore, traders have been pricing in the possibility that the Federal Reserve will lower borrowing costs further this year, which might hold back the USD bulls from placing aggressive bets. Adding to this, diminishing odds for a Bank of Canada interest rate cut in June could support the CAD and also contribute to capping the USD/CAD pair.
Recover Your Lost Or Scammed Crypto Currency Today || With The Help Of Rescue Team Recovery Company. As more people invest in Bitcoin and other cryptocurrencies, the risk of losing access to digital assets rises daily. When individuals find themselves locked out of their wallets or fall victim to scams, This is where professional recovery services come into play. Hiring a professional recovery company, such as RESCUE TEAM RECOVERY, can be quite helpful in understanding the intricate world of cryptocurrency recovery. RESCUE TEAM RECOVERY has vast experience with cryptocurrency recovery. Their combination of expertise, tailored solutions, confidentiality, and track record of success makes them an invaluable ally in reclaiming lost assets. Reach Out Today For Help To Recover Your Scammed, Lost Or Hacked crypto currencies or bank monies. Eml: Rescueteamrecovery@cyberservices.com https://youtube.com/shorts/37MoxhwYdxQ?si=3zRhDZWTIQK27_cS
Hello everyone, I’d like to take this opportunity to express my heartfelt gratitude to Dr. Jakuta, a powerful spell caster who helped me reunite with my ex-lover after a painful breakup. For six long months, I thought our relationship was over, but Dr. Jakuta’s spell brought us back together. Within 48 hours of the spell being cast, my ex reached out, apologizing for the hurt and promising to make amends. I was overjoyed and welcomed her back into my life. If you’re facing similar relationship challenges or other difficulties, I highly recommend contacting Dr. Jakuta. His spell casting abilities are truly remarkable. You can reach Dr. Jakuta via WhatsApp: +2349161779461 Email: doctorjakutaspellcaster24@gmail.com
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3575-1.3675
Euro 1.5000-1.5100
Sterling 1.6950-1.7050
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3840-1.4010
Euro 1.5070-1.5270
Sterling 1.7930-1.8140
Today's expected range for the Canadian Dollar against the major currencies:
US Dollar 1.3700-1.3950
Euro 1.6130-1.6380
Sterling 1.8690-1.8940
