{"id":1041,"date":"2024-03-26T22:56:31","date_gmt":"2024-03-26T22:56:31","guid":{"rendered":"https:\/\/thetalabmarketing.net\/?p=1041"},"modified":"2024-03-26T22:56:31","modified_gmt":"2024-03-26T22:56:31","slug":"usd-cad-gains-momentum-above-1-3570-eyes-on-fed-rate-decision","status":"publish","type":"post","link":"https:\/\/thetalabmarketing.net\/?p=1041","title":{"rendered":"USD\/CAD gains momentum above 1.3570, eyes on Fed rate decision"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li><strong>USD\/CAD holds positive ground near 1.3578 in Wednesday\u2019s Asian session.&nbsp;<\/strong><\/li>\n\n\n\n<li><strong>Fed is anticipated to keep rates steady in a range of 5.25% to 5.5% at its policy meeting on Wednesday.&nbsp;<\/strong><\/li>\n\n\n\n<li><strong>The downbeat Canada\u2019s CPI inflation data boosted expectations for a June&nbsp;rate cut&nbsp;from the BoC.<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The USD\/CAD pair gains momentum above the mid-1.3500s during the early Asian trading hours on Wednesday. The uptick of the pair is bolstered by the firmer US Dollar (USD) and cooler-than-expected Canadian Consumer Price Index (CPI) inflation data. Investors will closely monitor the Federal Reserve&nbsp;interest rate decision&nbsp;on Wednesday, with no change in rate expected. At the press time, the pair is trading at 1.3578, up 0.09% on the day.<\/p>\n\n\n\n<p>The Fed is likely to keep&nbsp;rates&nbsp;at a two-decade high in a range of 5.25% to 5.5% at its two-day policy meeting on Wednesday and stay focused on sticky inflation. According to the CME FedWatch Tool, markets have priced in three quarter-point rate cuts this year, with 63% odds that they will begin in June<\/p>\n\n\n\n<p>About the data, the US Census Bureau revealed on Tuesday that New Home Sales improved to 10.7% MoM in February from a 12.3% fall in January. Meanwhile, Building Permits rose to 1.9% from the previous reading of a 0.3% decline.<\/p>\n\n\n\n<p>On the other hand, weaker-than-expected Canada\u2019s CPI inflation data boosted expectations for a June&nbsp;rate cut&nbsp;from the Bank of Canada (BoC), which exerts some selling pressure on the&nbsp;Canadian Dollar&nbsp;(CAD). Following the data, money markets have priced in a 75% chance that the BoC will start cutting rates in June, up from 50% before the release.<\/p>\n\n\n\n<p>On Tuesday, the headline Canadian CPI figure rose 2.8% YoY in February, while the Core CPI figure eased to 2.1% in February from 2.4% in January. On a monthly basis, the CPI figure climbed 0.3% MoM compared to expectations for a 0.6% increase.<\/p>\n\n\n\n<p>Looking ahead, the Fed\u2019s monetary policy on Wednesday will take center stage. Fed Chair Jerome Powell will hold a press conference 30 minutes later,&nbsp;which&nbsp;might provide information on the central bank\u2019s outlook. On Thursday, the&nbsp;BoC&nbsp;Summary of Deliberations and Canada\u2019s housing data will be released.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">USD\/CAD<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th colspan=\"2\">OVERVIEW<\/th><\/tr><\/thead><tbody><tr><td>Today last price<\/td><td>1.3575<\/td><\/tr><tr><td>Today Daily Change<\/td><td>0.0008<\/td><\/tr><tr><td>Today Daily Change %<\/td><td>0.06<\/td><\/tr><tr><td>Today daily open<\/td><td>1.3567<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th colspan=\"2\">TRENDS<\/th><\/tr><\/thead><tbody><tr><td>Daily SMA20<\/td><td>1.3525<\/td><\/tr><tr><td>Daily SMA50<\/td><td>1.349<\/td><\/tr><tr><td>Daily SMA100<\/td><td>1.3511<\/td><\/tr><tr><td>Daily SMA200<\/td><td>1.3483<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th colspan=\"2\">LEVELS<\/th><\/tr><\/thead><tbody><tr><td>Previous Daily High<\/td><td>1.3614<\/td><\/tr><tr><td>Previous Daily Low<\/td><td>1.3532<\/td><\/tr><tr><td>Previous Weekly High<\/td><td>1.3552<\/td><\/tr><tr><td>Previous Weekly Low<\/td><td>1.3459<\/td><\/tr><tr><td>Previous Monthly High<\/td><td>1.3606<\/td><\/tr><tr><td>Previous Monthly Low<\/td><td>1.3366<\/td><\/tr><tr><td>Daily Fibonacci 38.2%<\/td><td>1.3582<\/td><\/tr><tr><td>Daily Fibonacci 61.8%<\/td><td>1.3563<\/td><\/tr><tr><td>Daily Pivot Point S1<\/td><td>1.3528<\/td><\/tr><tr><td>Daily Pivot Point S2<\/td><td>1.3489<\/td><\/tr><tr><td>Daily Pivot Point S3<\/td><td>1.3446<\/td><\/tr><tr><td>Daily Pivot Point R1<\/td><td>1.361<\/td><\/tr><tr><td>Daily Pivot Point R2<\/td><td>1.3652<\/td><\/tr><tr><td>Daily Pivot Point R3<\/td><td>1.3691<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The USD\/CAD pair gains momentum above the mid-1.3500s during the early Asian trading hours on Wednesday. The uptick of the pair is bolstered by the firmer US Dollar (USD) and cooler-than-expected Canadian Consumer Price Index (CPI) inflation data. Investors will closely monitor the Federal Reserve&nbsp;interest rate decision&nbsp;on Wednesday, with no change in rate expected. At [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1042,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex-news"],"_links":{"self":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts\/1041"}],"collection":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1041"}],"version-history":[{"count":1,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts\/1041\/revisions"}],"predecessor-version":[{"id":1043,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts\/1041\/revisions\/1043"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/media\/1042"}],"wp:attachment":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}