USD/CAD struggles to scale above 1.3740 as investors await US Inflation for fresh impetus USDCAD Fed BOC Inflation SEO
from the Federal Reserve , which is scheduled for next week. S&P500 futures are attempting to hold gains generated in the Asian session.
However, the risk appetite is still weak as global stocks are facing the heat of the Silicon Valley Bank collapse. The return delivered on 10-year US Treasury bonds has rebounded to near 3.57% on hopes that US inflation data could fuel safe-haven's appeal.The major catalyst of the week- US inflation, will release on Tuesday and is expected to deliver a power-pack action in the FX domain.
Despite an increase in the jobless rate, the US labor market looks upbeat as firms are continuously escalating their recruitment process to add more people. And, employment bills are still in a rising trend, which indicates that households are equipped with sufficient funds to trigger inflation again.
Analysts at Wells Fargo expect “Another monthly increase of 0.4% in the overall CPI in February, which would put the annual rate at 6.0%. We still see inflation set to grind lower, but the process is likely to be bumpy and take time. Despite some directional improvement over the past couple of quarters, prices are still growing well above the Fed's 2% target, and the tight labor market suggests that there are still inflationary pressures that could forestall a full return to 2% inflation.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD Price Analysis: Bears home in on daily trendline supportThe Canadian Dollar barely changed against its US counterpart on Friday, but it is gaining momentum vs. the greenback at the start of the week, moving
Read more »
USD/CAD may have a shot at pushing back towards 1.37 – ScotiabankCAD slips from highs versus soft USD. Economists at Scotiabank expect the USD/CAD pair to challenge 1.37 if it manages to stay below the 1.38 level. P
Read more »
USD/CAD Price Analysis: Bearish harami candle pattern to sink prices toward 1.3500USD/CAD drops from around daily highs of 1.3815, falls 0.90% on overall US Dollar (USD) weakness, spurred on an ongoing Regional Bank crisis in the US
Read more »
USD/CAD Price Analysis: Recovery remains elusive below 1.3790 hurdleUSD/CAD bulls struggle to keep the latest rebound from a one-week low around 1.3750 during early Tuesday. Even so, the Loonie pair sellers have a toug
Read more »
USD/CAD grinds higher past 1.3700 as US Dollar bears take a breather ahead of inflation data, Oil recoversUSD/CAD grinds higher past 1.3700 as US Dollar bears take a breather ahead of inflation data, Oil recovers – by anilpanchal7 USDCAD Oil RiskAppetite Fed YieldCurve
Read more »
EUR/USD bulls cheer drops in hawkish Fed bets above 1.0700 with eyes on US inflationEUR/USD bulls cheer drops in hawkish Fed bets above 1.0700 with eyes on US inflation – by anilpanchal7 EURUSD RiskAppetite Inflation Fed Equities
Read more »