The Canadian Dollar (CAD) has tumbled nearly 0.8% in Wednesday’s early North American session to reach the lowest levels this year so far. US Consumer Prices Index (CPI) figures for March confirmed that inflation remains stubbornly high, sending US Treasury yields and the US Dollar to fresh multi-month highs.
Canadian Dollar dives as US Dollar rallies after strong US CPI data. Bank of Canada keeps rates on hold but hints at rate cut , probably in June. Bets on Fed cut in June drop from 50% to 17% following US inflation figures. The Canadian Dollar has tumbled nearly 0.8% in Wednesday’s early North American session to reach the lowest levels this year so far.
For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR /JPY . Technical analysis: USD/CAD breaks above channel top, next resistance at 1.3740 The US Dollar has broken above the last two months’ channel top as the strong US inflation data dampened hopes of a rate cut in June. Bulls have taken control, sending the pair to levels near 1.3700 so far.
Canadian Dollar US Dollar CPI Data Bank Of Canada Rate Cut US Inflation US Treasury Yields Core Inflation Federal Reserve Employment Data
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