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Asia FX on guard before payrolls data, yen rebounds amid likely intervention
Investing.com– Most Asian currencies rose slightly on Friday, capitalizing on a drop in the dollar as markets hunkered down before key U.S. payrolls data that…
Analysis-Japan faces a tough tug-of-war with yen bears
By Ankur Banerjee and Rae WeeSINGAPORE (Reuters) – Japan appears to have bought some time and respite for a tumbling yen through its latest bursts…
Dollar on back foot ahead of jobs report; yen on track for hefty weekly gains
Investing.com – The U.S. dollar drifted marginally lower Friday, with activity muted ahead of the widely-watched monthly U.S. jobs report, and the Japanese yen set…
Dollar drops as employers add fewer jobs than expected in April
By Karen BrettellNEW YORK (Reuters) – The dollar fell to a three-week low against the yen on Friday after data showed U.S. jobs growth slowed…
Bitcoin Maintains $63K, Dogecoin’s Rise Continues With Another 6% Surge (Weekend Watch)
Bitcoin’s price recovery tour took it to a multi-day peak of $64,500 yesterday, but the asset failed to continue upward and has retraced by over…
The Forex USD/CAD price continues to strengthen due to the policy of the US Federal Reserve aimed at tightening the parameters of the national monetary policy, and the pair USD/CAD is trading around 1.2995.
What’s happened to the USD/CAD Forex chart?
Last week, the regulator decided to raise the interest rate by 75 basis points to 1.75%, as a result of which the US dollar strengthened against the Canadian currency (see the USD/CAD Forex chart above) and updated the May maximum of 1.3065. Bidders evaluate the results of the meetings of the world’s leading central banks, which were largely unexpected. For example, the US Federal Reserve announced it was raising interest rates by 75 basis points for the first time since 1994.
On the same day, the European Central Bank (ECB) convened an emergency meeting at which it actually began to prepare for a rate adjustment in July, fearing that an increase in the cost of borrowing in the debt market could have an extremely negative impact on the economic growth dynamics. Finally, the Swiss National Bank raised the value by 50 basis points at once, keeping it, nevertheless, at negative values.
Forex CAD/USD: inevitable downtrend
Meanwhile, the Canadian dollar is declining following oil prices: WTI Crude Oil lost 7.7% last week and it looks like the negative dynamics for CAD/USD Forex futures will only intensify.
In turn, the house price index lost 0.8% for the month after falling 1.1% in April, but it is still more than 19% higher than last year, mainly due to the impressive growth of Forex CAD/USD price seen at the end of 2021.
What impacts the USD/CAD live Forex chart these days?
As for the USD/CAD Forex forecast, the focus of the market will be a block of statistics from the US on the dynamics of industrial production and capacity utilization in June. What also says about the strength of the USD/CAD live Forex chart is Canada’s new report. The data on the volume of investment in foreign securities, as well as the May index of prices for industrial products and raw materials, will make the CAD/USD Forex futures fall even lower. Also you can see Usd CHF forecast and Tsla stock price.
