USD/CAD breaks losing streak, poised for a dip below 1.3600 on mixed US data – by christianborjon USDCAD Currencies Majors
The Gross Domestic Product in the US expanded less than estimates, while unemployment claims rose less than forecast.
Of note, on the GDP report, the core Personal Consumption Expenditure for the first quarter rose by 4.9%, above estimates, justifying the Fed’s intention to raiseby 25 bps next week. The CME FedWatch Tool shows that the swaps markets depict that odds for a quarter of a percentage hike lie at 87.1%, above yesterday’s intentions.
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