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HSBC is expected to cut interest rates by 25 basis points this week, and the US and Canada are expected to break through 1.3750 and reach 1.3900!
In the survey from July 16th to 19th, nearly three-quarters of the surveyed economists expected the Bank of Canada to cut interest rates by 25 basis points on Wednesday this week. The surveyed economists also predict that the Bank of Canada will pause its easing cycle at the September meeting, and then resume interest rate cuts in October and December. Forex analyst Saqib Iqbal pointed out that if the USD/CAD breaks through the 1.3600 support and 1.3750 resistance range, it will return to the key level of 1.3900.
Canada Producer Prices Flat in June, Raw Material Costs Slide
Excluding energy products, producer prices edged up 0.1% on-month, the data agency said Friday.
Canadian Dollar Gives a Mixed Thursday Performance
The Canadian Dollar (CAD) recovered some ground in mixed trading on Thursday but still shed weight against the Greenback, the market’s best-performing currency of the day.
Canada Unemployment Rate Expected To Peak at 6.6% -- Market Talk
CIBC Capital Markets revises its economic forecast for Canada, with the most notable change being an uptick in the unemployment rate.
Canadian Dollar Slips Back on Wednesday as Markets Reassess BoC Rate Decision
The Canadian Dollar (CAD) shed weight on Wednesday as investors take a second look at Canadian Consumer Price Index (CPI) inflation figures released earlier in the week.
Canada's core inflation unexpectedly remained unchanged, slightly reducing the possibility of consecutive interest rate cuts in July.
According to Karl Schamotta, Chief Market Strategist of Corpay, overall inflation in Canada slowed as expected last month, but the core inflation indicator surprisingly remained unchanged, which slightly reduced the possibility of a consecutive rate cut at the July meeting of the central bank. The market currently believes there is a 92% chance of a rate cut by the Bank of Canada this month. However, if the Bank of Canada keeps rates unchanged and disappoints these expectations, the Canadian dollar may rebound due to this surprise.