The USD/CAD climbed during the North American session, though it slipped below the 1.3600 figure after data from Canada suggested the disinflationary process continued.
USD/CAD slips to 1.3565 following Canadian CPI report showing inflation cooling more than expected. Disinflationary trend boosts speculation of an upcoming Bank of Canada rate cut, with June odds at 73%. US housing data indicates market resilience, adding a positive backdrop to the currency dynamics. At the time of writing, the pair exchanges hands at 1.3565 after hitting a new year-to-date high of 1.3613.
USD/CAD traders brace for Wednesday’s Federal Open Market Committee decision. Futures data shows that the Fed holding rates are unchanged, though uncertainty lies in the update of their Summary of Economic Projections . Some analysts suggest Fed policymakers could disregard one rate cut, keeping rates higher for longer. USD/CAD Price Analysis: Technical outlook After reaching a new YTD high, the USD/CAD retreated below the 1.3600 mark. If the pair closes below the 1.
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