USD/CAD faces challenges due to the weaker US Dollar despite higher US Treasury yields. The decline in WTI prices, attributed to de-escalated geopolitical tensions in the Middle East, restrains the upward momentum of the Canadian Dollar. The downside potential for the US Dollar may be limited as remarks from Fed officials indicate a hawkish stance on monetary policy tightening.
Furthermore, data from Canada indicates a softening inflationary trend, underscoring the divergent monetary policy outlook between the Bank of Canada and the US Federal Reserve . While interest rates in Canada are anticipated to decrease in the summer amid declining inflation and slower growth, the situation is increasingly different in the United States .
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Source: FXStreetNews - 🏆 14. / 72 Read more »