USD/CAD rises above 1.3700 ahead of Core PCE inflation

USD/CAD extends its winning streak due to higher yields on US Treasury bonds. US Core PCE inflation, the Fed's preferred inflation gauge, is forecasted to decrease to 2.6% YoY from the previous 2.8% reading. Canada’s GDP is expected to grow by 0.3% in April, against the neutral growth observed in March. Investors await Friday’s Core PCE Price Index inflation, which is projected to decrease year-over-year to 2.6% from the previous 2.8%.

Bowman said, adding “We are still not yet at the point where it is appropriate to lower the policy rate, and I continue to see some upside risks to inflation,” per Reuters. Read the full article: Inflation should ease with current Fed policy On the Canadian Dollar’s side, Statistics Canada is scheduled to release the country's GDP later in the North American session. Canada’s economy is expected to grow by 0.3% in April, compared to the neutral growth observed in March.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

USD/CAD rises toward 1.3700 ahead of US PCE, Canada’s GDPUSD/CAD halts its recent losses, trading around 1.3690 during the Asian session on Friday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

USD/CAD IG Client Sentiment: Our data shows traders are now net-long USD/CAD for the first time since Jun 04, 2024 when USD/CAD traded near 1.37.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bearish contrarian trading bias.
Source: DailyFX - 🏆 305. / 63 Read more »

NZD/USD moves above 0.6100, eyes on US Core PCENZD/USD breaks its three-day losing streak, trading around 0.6130 during the European session on Friday.
Source: FXStreetNews - 🏆 14. / 72 Read more »