The USD/CAD pair is currently trading around the 1.3543 level on Friday, reflecting minor losses after hitting a high of 1.3560 earlier in the session.
US February’s PCE figures largely met expectations. Next week, the focus will be on Nonfarm payrolls for markets to continue placing their bets on the next Fed decisions. Hot data may justify a delay in policy rate cuts beyond June. While investors digest Personal Consumption Expenditures figures, the market will turn its attention toward forthcoming employment-related figures that may add further nuance to the Federal Reserve's posture on a probable policy rate delay.
Strong employment figures could prompt Fed policymakers to delay rate cuts beyond June and possibly reduce the number of cuts projected for 2024 from three to two, potentially bolstering the US Dollar. As for now, the strongest case scenario continues to be three rate cuts in 2024, starting in June. USD/CAD technical analysis On the daily chart, USD/CAD shows a somewhat stable trend.
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USD/CAD IG Client Sentiment: Our data shows traders are now net-short USD/CAD for the first time since Mar 06, 2024 15:00 GMT when USD/CAD traded near 1.35.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bullish contrarian trading bias.
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USD/CAD forex trade review [Video]In this forex trading video we cover the entry,exit reasons and management for our forex trade today on the USD/CAD & how you can trade the forex structure on Daily , 4 , 1 Hourly, 15 minute charts and how you can target the next support/resistance.
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![USD/CAD forex trade review [Video]](https://i.headtopics.com/images/2024/3/15/fxstreetnews/usd-cad-forex-trade-review-video-usd-cad-forex-trade-review-video-079A1C165A9D069C5757576B4F67A2D6.webp?w=640)
USD/CAD forex trade review [Video]In this forex trading video we cover the entry,exit reasons and management for our forex trade today on the USD/CAD & how you can trade the forex structure on Daily , 4 , 1 Hourly, 15 minute charts and how you can target the next support/resistance.
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USD/CAD drifts lower to 1.3470, investors await US Retail Sales dataThe USD/CAD pair trades in negative territory for a second consecutive day during the early Asian session on Thursday.
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USD/CAD Price Analysis: Reaches higher to near 1.3480 ahead of nine-day EMAUSD/CAD retraces its recent losses from the previous session, edging upwards to near 1.3480 during Thursday's European session.
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USD/CAD inches higher to near 1.3540, focus on Canadian CPI, Fed policyUSD/CAD kicks off the week with its third consecutive day of gains on Monday, inching higher to near 1.3540 during the Asian trading session.
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