USD/CAD pares its losses, though capped between the 100/200-DMAs | The Markets Café
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
Tuesday, March 21, 2023
No Result
View All Result
Subscribe
  • Login
The Markets Café
en English
zh-CN 简体中文en Englishfr Françaisde Deutschhi हिन्दीit Italianoja 日本語pt Portuguêsru Русскийes Españoltr Türkçe
  • News
  • Politics
  • Markets
    • Stocks
    • Futures
    • Commodities
  • Crypto
    • News
    • Markets
    • NFT
    • DeFi
    • Explained
  • Economy
  • Finance
  • Investing
  • Forex
  • Real Estate
  • Tech
  • VideosHOT
  • Community
  • Charts
  • News
  • Politics
  • Markets
    • Stocks
    • Futures
    • Commodities
  • Crypto
    • News
    • Markets
    • NFT
    • DeFi
    • Explained
  • Economy
  • Finance
  • Investing
  • Forex
  • Real Estate
  • Tech
  • VideosHOT
  • Community
  • Charts
No Result
View All Result
The Markets Café
No Result
View All Result
  • News
  • Politics
  • Markets
  • Crypto
  • Economy
  • Finance
  • Forex
  • Investing
  • Tech
  • Videos
  • Community
Home Forex

USD/CAD pares its losses, though capped between the 100/200-DMAs

by Press Room
August 12, 2022
in Forex
101 2
A A
0
21
SHARES
688
VIEWS
FacebookTwitter
  • USD/CAD is set to finish the week with losses of 1.22%.
  • The University of Michigan Consumer Sentiment for August surprises the upside and boosts the greenback.
  • US Fed officials are still committed to tackle inflation and reiterated their job is not done.

USD/CAD advances on Friday, erasing Thursday’s losses, after a positive US consumer sentiment report boosted investors’ appetite, propelling US equities higher while the greenback rose. At the time of writing, the USD/CAD is trading at 1.2773.

The USD/CAD exchanges hands above its opening price, but earlier in the European session, it tumbled to the daily low at 1.2739, but buyers moved in and lifted the pair above the 100-day EMA at 1.2795. Nevertheless, once the dust settled, the pair stabilized around current prices.

US data revealed during the morning lifted the USD/CAD above its 100-DMA when the University of Michigan showed that the US Consumer Sentiment improved from 52.5 foreseen to 55.1, reaching a three-month high. That is good news for the Federal Reserve; however, inflation expectations for a 5-year horizon jumped above the 3% threshold, while in the short-term, one year, decreased to 5% from 5.2% estimated.

Nevertheless, during the week, US inflation data pointed downwards, led by CPI down at 8.5%, while the PPI decelerated to 8.5%. However, Fed officials reiterated that even though data is welcomed, inflation still is “too high,” so the US central bank emphasized its commitment to tackling inflation.

On Thursday, San Francisco’s Fed Mary Daly said that inflation remains high and that she favors a 50 bps rate hike. However, she does not discount a 75 rate hike, but it would depend on data. On Friday, Richmond’s Fed Thomas Barkin said that inflation data is welcome, but he wants to see a sustained period of inflation under control. Barkin added he’s undecided about September’s FOMC monetary policy meeting.

In the meantime, the US Dollar Index is recovering some ground in the day, is up 0.56%, at 105.676, set to finish below the 106.000 mark.

What to watch

The Canadian economic docket will feature the Consumer Price Index for July, alongside Housing Starts and Retail Sales. On the US side, the calendar will feature the NY Fed Manufacturing, Housing data, Industrial Production, and Retail Sales.

USD/CAD Key Technical Levels

 

Read the full article here

Related Articles

Forex

Get out of currencies with high-interest rates to arm against a crisis of the financial system – Commerzbank

March 21, 2023
Forex

Gold Price Forecast: XAU/USD to fall if Fed Chair Powell manages to dampen rate cut expectations – Commerzbank

March 21, 2023
Forex

Gold Price Forecast: XAU/USD collapses below $1950 as US bond yields aim higher

March 21, 2023
Forex

EUR/GBP seen at 0.88 on a three-month view – Rabobank

March 21, 2023
Forex

USD/JPY Price Analysis: Flirts with 50% Fibo. level, below mid-132.00s amid risk-on mood

March 21, 2023
Forex

Silicon Valley Bank’s collapse is not a 2008 moment – UBS

March 21, 2023

About Us

The Markets Café

The Markets Cafe is your one stope Finance, Politics and bussines news website, follow us to get the latest news and updates from around the world.

Sections

  • Commodities
  • Crypto Markets
  • Crypto News
  • DeFi
  • Economy
  • Explained
  • Finance
  • Forex
  • Futures
  • Investing
  • Markets
  • News
  • NFT
  • Politics
  • Real Estate
  • Stocks
  • Tech
  • Videos

Site Links

  • Contact
  • Advertise
  • DMCA
  • Submit Article
  • Forum
  • Site info
  • Newsletter

Newsletter

THE MOST IMPORTANT FINANCE NEWS AND EVENTS OF THE DAY

Subscribe to our mailing list to receives daily updates direct to your inbox!

  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact

© 2022 The Markets Café - All rights reserved.

No Result
View All Result
  • News
  • Politics
  • Markets
    • Stocks
    • Futures
    • Commodities
  • Crypto
    • News
    • Markets
    • NFT
    • DeFi
    • Explained
  • Economy
  • Finance
  • Investing
  • Forex
  • Real Estate
  • Tech
  • Videos
  • Community
  • Charts

© 2022 The Markets Café - All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.