USD/CAD trades near the 1.4000 area after bouncing from mid-1.38s earlier this week. Softer Canadian inflation and Powell’s tariff warnings pressure the Canadian Dollar outlook. Key resistance stands at 1.4060; technical backdrop skews bearish despite recent rebound. USD/CAD hovered near the 1.4000 zone on Tuesday, consolidating after recovering from earlier lows around the 1.3850 region. […]
There was a little confusion around the temporary roll-back of US tariffs yesterday. Canada was not included in the round of reciprocal tariffs announced on Liberation Day but Treasury Secretary Scott Bessent said the 10% baseline tariff applied to both Canada and Mexico, Scotiabank’s Chief FX Strategist Shaun Osborne notes. CAD gains modestly on the
USD/CAD rebounds to around 1.4105 in Thursday’s early Asian session. Trump announced a 90-day pause on higher reciprocal tariffs on US trading partners. The US CPI inflation report for March will be in the spotlight later on Thursday. The USD/CAD pair recovers some lost ground to near 1.4105 during the early Asian session on Thursday.
USD/CAD attracts some buyers for the second straight day amid a combination of supporting factors. Tumbling Oil prices, domestic political uncertainty, and Friday’s dismal jobs data undermine the Loonie. The risk-off mood benefits the USD’s relative safe-haven status and also acts as a tailwind for the pair. The USD/CAD pair attracts some follow-through buying for
USD/CAD trades with negative bias for the fourth successive day amid the prevalent USD selling bias. Worries that Trump’s tariffs might trigger a US recession lift Fed rate cut bets and weigh on the buck. The overnight downfall in Crude Oil prices undermines the Loonie and lends some support to the major. Traders also seem
USD/CAD lacks firm intraday direction on Monday amid a combination of diverging factors. Fed rate cut bets and concerns about a slowing economy continue to weigh on the Greenback. Subdued Crude Oil prices undermine the Loonie and support the pair amid the risk-off mood. The USD/CAD pair struggles to capitalize on its modest bounce
USD/CAD falls further to near 1.4250 amid strength in the Canadian Dollar. Investors doubt that the BoC will continue reducing interest rates after the release of the hot CPI report for February. The risk sentiment remains cautious as US President Trump is expected to announce significant tariffs on April 2. The USD/CAD pair extends its
USD/CAD struggles to gain any meaningful traction on Monday amid mixed cues. Fed rate cut bets prompt some USD selling and act as a headwind for the major. Softer Oil prices and Canadian politics undermine the Loonie and lend support. The USD/CAD pair kicks off the new week on a softer note amid the emergence
USD/CAD softens to around 1.4290 in Monday’s late American session. US Retail Sales rose softer than expected in February, weighing on the US Dollar. Crude Oil prices edge higher due to geopolitical risks, supporting the commodity-linked CAD. The USD/CAD pair remains on the defensive near 1.4290 during the late American session on Monday. The US dollar
The Canadian Dollar shed 0.3% against the Greenback on Tuesday. Bank of Canada (BoC) rate call looms large during the midweek session. US President Trump’s trade war against Canada has hit a new gear. The Canadian Dollar roiled on Tuesday, falling roughly six-tenths of one percent against the Greenback at its lowest as markets weigh
The Canadian Dollar churned on Thursday, holding flat against the Greenback. PMI figures from Canada contracted sharply in January, limiting Loonie gains. Key US NFP and Canadian employment figures are due on Friday. The Canadian Dollar (CAD) spun in a tight circle on Thursday, churning chart paper near 1.4300 against the US Dollar (USD) as
USD/CAD falls sharply below 1.4300 as the Canadian Dollar continues to advance on US President Trump’s decision to postpone tariffs on Canada. BofA expects US tariff threats to China will continue to persist until a new USMCA deal gets negotiated. Investors await the US ISM Services PMI and the ADP Employment data for December. The USD/CAD
USD/CAD softens to around 1.4300 in Tuesday’s early Asian session. Trump did not impose tariffs on US trading partners on his first day in the White House. BoC’s latest Business Outlook Survey suggested that the overall economic sentiment remains subdued. The USD/CAD pair remains on the defensive around 1.4300 during the early Asian session on Tuesday, pressured
