USD/CAD consolidates within previous ranges, with 1.3835 holding bulls

avatar
· 阅读量 24
  • The US Dollar keeps moving within a tight range above 1.3800 ahead of the US PCE Inflation release.
  • Trade uncertainty and growing concerns about US debt are limiting the US Dollar's rallies.
  • In Canada, GDP data is expected to show that the economy lost steam in the first quarter.

The US Dollar is clinging to minor gains on Friday, with price action wavering within previous day’s ranges and the 4-hour RSI flat around the 50 level, which signals a lack of clear bias.

The Dollar whipsawed on Thursday before closing the day with a 0.2% decline, as a federal court paused a previous sentence from a lower court blocking most of the trade tariffs introduced by the US President Trump on April 2.

The decision dampened market enthusiasm for a normalisation of global trade and revived fears that higher prices for imported goods will boost inflation and slow down growth, leading to stagflation and posing a serious challenge for the Fed.

Trade uncertainty and debt woes are weighing on the USD

Recent data underscored those concerns. The US GDP confirmed that the economy contracted in the first quarter, and weekly Jobless Claims increased against expectations. This, coupled with a sweeping tax bill that is expected to boost an already high US debt, is expected to weigh on the USD in the mid-term.

The focus today is on the US PCE Prices Index release, which is expected to show some cooling in yearly inflation, 2.2% from 2.3% in March, while the core reading is seen easing to 2.5% from the previous 2.6%. Monthly inflation is seen picking up 0.1%, in both cases, after a flat reading in March.  


In Canada, the focus will be on the first quarter’s GDP inflation figures, which are expected to show a slowdown to a 1.7% annualized growth from the previous quarter’s 2.6% reading.

Canadian Dollar PRICE Today

The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the strongest against the Australian Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.32% 0.10% -0.12% 0.01% 0.34% 0.10% 0.15%
EUR -0.32% -0.20% -0.47% -0.31% 0.06% 0.10% -0.17%
GBP -0.10% 0.20% -0.27% -0.10% 0.27% 0.13% 0.04%
JPY 0.12% 0.47% 0.27% 0.14% 0.56% 0.38% 0.34%
CAD -0.01% 0.31% 0.10% -0.14% 0.42% 0.21% 0.14%
AUD -0.34% -0.06% -0.27% -0.56% -0.42% 0.04% -0.23%
NZD -0.10% -0.10% -0.13% -0.38% -0.21% -0.04% -0.27%
CHF -0.15% 0.17% -0.04% -0.34% -0.14% 0.23% 0.27%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)/USD (quote).


Share: Feed news

风险提示:以上内容仅代表作者或嘉宾的观点,不代表 FOLLOWME 的任何观点及立场,且不代表 FOLLOWME 同意其说法或描述,也不构成任何投资建议。对于访问者根据 FOLLOWME 社区提供的信息所做出的一切行为,除非另有明确的书面承诺文件,否则本社区不承担任何形式的责任。

FOLLOWME 交易社区网址: www.followme.ceo

喜欢的话,赞赏支持一下
avatar


回复 0
  • tradingContest
登录
使用 Google 账号登录
使用 Apple 账号登录
使用手机号登录
or
邮箱地址
密码
忘记密码?
没有账户? 注册