USD/CAD gains momentum above 1.3430 amid strong USD, US CPI eyed – by lilyfinancial USDCAD Majors Macroeconomics
The US trade data show a sluggish economic rebound and subdued global demand in the country. The US trade deficit narrowed sharply in June, with the figure coming in at $65.5 billion, higher than expectations of $65 billion and below the $68.3 billion prior.
Additionally, Moody’s downgraded the credit ratings of several midsize and small US lenders and issued a warning about possible cuts to the ratings of larger institutions. Moody's added that banks with significant unrealized losses that are not reflected in their regulatory capital ratios are vulnerable to a loss of confidence in the current tightening policy cycle. Markets turn cautious about this headline and lift the safe-haven Dollar.
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USD/CAD Price Analysis: Jumps to two-month high, bulls seize control above 100-day SMAThe USD/CAD pair gains strong positive traction on Tuesday and rallies to over a two-month peak, around the 1.3435 region during the first half of the European session. Weaker Chinese trade data revives fears about faltering recovery in the world's second-largest economy and weighs heavily on Crude Oil prices. Apart from this, expectations that the Bank of Canada (BoC) will pause its interest rate hike campaign undermine the commodity-linked Loonie.
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USD/CAD Price Analysis: Refreshes two-month high around 1.3400 as Fed delivers hawkish guidanceUSD/CAD Price Analysis: Refreshes two-month high around 1.3400 as Fed delivers hawkish guidance – by Sagar_Dua24 USDCAD Fed BOC Inflation SupportResistance
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USD/CAD: Room for a move lower in near-term but unlikely to last – MUFGThe Canadian Dollar underperformed alongside the US Dollar in July. Economists at MUFG Bank analyze USD/CAD outlook. USD/CAD should be trading closer
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USD/CAD hits two-month high, bulls await move beyond 100-day SMA hurdle near 1.3400The USD/CAD pair touches a two-month peak during the Asian session on Tuesday, with bulls now awaiting a sustained move beyond the 100-day Simple Moving Average hurdle near 1.3400.
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USD/CAD: There is little to stop additional gains – ScotiabankWeak risk appetite and softer commodity prices are dragging the CAD lower. Shaun Osborne, Chief FX Strategist at Scotiabank, expects the USD/CAD pair to extend its gains through the upper 1.33 area.
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USD/CAD Soars Amid Resilient US Dollar and Weak Oil PricesThe USD/CAD pair climbs swiftly to near 1.3475 in the European session due to the strong US Dollar and a sell-off in oil prices. This news provides information and should not be considered as a recommendation to buy or sell assets. Conduct your own research before making investment decisions.
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