USD/CAD attempts upside above 1.3520 ahead of US Inflation and Bank of Canada policy USDCAD Fed BOC Inflation SEO
Meanwhile, the US Dollar Index is continuously refreshing day’s high as tight US labor market conditions have strengthened hopes of more rate hikes from the Federal Reserve . The USD Index has printed a high of 102.25. The US Treasury yields are showing a subdued performance despite rising odds of a hawkish Federal Reserve policy for May.
However, the upward-rising US labor cost index due to a shortage of labor is keeping demand for core goods resilient. This might force Federal Reserve chair Jerome Powell to put the last nail in the coffin by pushing rates above 5% to intermediate pivotal.This week, the Canadian Dollar will dance to the tunes of the interest rate decision by the Bank of Canada.
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