* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, July 19, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Theater at Santa Fe’s San Isidro Plaza will be converted into IMAX, family entertainment venue – Santa Fe New Mexican

    Santa Fe’s San Isidro Plaza Theater Transforms into Exciting IMAX Family Entertainment Venue

    B&B Theatres will open massive entertainment complex in Texas – The Business Journals

    B&B Theatres will open massive entertainment complex in Texas – The Business Journals

    Rough times for broadcast networks illustrate changing media landscape – New Haven Register

    Broadcast Networks Confront Turbulent Times in a Rapidly Changing Media Landscape

    Black River Entertainment Adds Traci Hite As Director Of Promotion, Southeast – MusicRow.com

    Black River Entertainment Welcomes Traci Hite as New Director of Southeast Promotion

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    A major AI training data set contains millions of examples of personal data – MIT Technology Review

    A major AI training data set contains millions of examples of personal data – MIT Technology Review

    Simpson College to purchase medical simulation technology with grant funds – Iowa Capital Dispatch

    Simpson College to purchase medical simulation technology with grant funds – Iowa Capital Dispatch

    SailGP Technologies officially launches new center of excellence in technology & innovation – Sail-World.com

    SailGP Technologies officially launches new center of excellence in technology & innovation – Sail-World.com

    Victorville’s new gunfire-detecting technology already making strides, city says – NBC Los Angeles

    Victorville’s New Gunfire-Detecting Technology Is Already Making a Difference, City Officials Say

    Guest columnist: China cutting corners on technology – The State Journal

    China’s Rapid Tech Advances Spark Worries About Cutting Corners

    Sentrycs’ Cyber Over RF technology integrated into Rafael’s combat-proven Drone Dome system – Defence Industry Europe

    Sentrycs’ Cyber Over RF Technology Boosts Rafael’s Battle-Tested Drone Dome System

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Theater at Santa Fe’s San Isidro Plaza will be converted into IMAX, family entertainment venue – Santa Fe New Mexican

    Santa Fe’s San Isidro Plaza Theater Transforms into Exciting IMAX Family Entertainment Venue

    B&B Theatres will open massive entertainment complex in Texas – The Business Journals

    B&B Theatres will open massive entertainment complex in Texas – The Business Journals

    Rough times for broadcast networks illustrate changing media landscape – New Haven Register

    Broadcast Networks Confront Turbulent Times in a Rapidly Changing Media Landscape

    Black River Entertainment Adds Traci Hite As Director Of Promotion, Southeast – MusicRow.com

    Black River Entertainment Welcomes Traci Hite as New Director of Southeast Promotion

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    A major AI training data set contains millions of examples of personal data – MIT Technology Review

    A major AI training data set contains millions of examples of personal data – MIT Technology Review

    Simpson College to purchase medical simulation technology with grant funds – Iowa Capital Dispatch

    Simpson College to purchase medical simulation technology with grant funds – Iowa Capital Dispatch

    SailGP Technologies officially launches new center of excellence in technology & innovation – Sail-World.com

    SailGP Technologies officially launches new center of excellence in technology & innovation – Sail-World.com

    Victorville’s new gunfire-detecting technology already making strides, city says – NBC Los Angeles

    Victorville’s New Gunfire-Detecting Technology Is Already Making a Difference, City Officials Say

    Guest columnist: China cutting corners on technology – The State Journal

    China’s Rapid Tech Advances Spark Worries About Cutting Corners

    Sentrycs’ Cyber Over RF technology integrated into Rafael’s combat-proven Drone Dome system – Defence Industry Europe

    Sentrycs’ Cyber Over RF Technology Boosts Rafael’s Battle-Tested Drone Dome System

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Canadian Dollar goes sideways after Tuesday’s Fed fizzle

July 9, 2024
in Business
Canadian Dollar goes sideways after Tuesday’s Fed fizzle
Share on FacebookShare on Twitter

Canadian Dollar struggled to develop momentum with little of note on the docket.
Canada is largely absent from the economic calendar this week.
Fed Chair Powell stuck close to the usual script, giving investors little to work with.

The Canadian Dollar (CAD) found little reason to move in any particular direction on Monday with little meaningful data on the offering and a flubbed US Federal Reserve (Fed) appearance that gave markets nothing to work with.

The only economic datapoint from Canada this week will be May’s Building Permits to be released on Friday, but little market impact is expected. The CAD has pushed into the middle against the US Dollar (USD), and a lack of a meaningful release schedule on the Canadian side exposes the Canadian Dollar to broader market flows.

Fed Chairman Jerome Powell gave the first half of his two-day testimony before US Congressional committees on Tuesday, delivering the Fed’s semiannual Monetary Policy Report to the Senate Committee on Banking, Housing, and Urban Affairs. Fed Chair Powell struck a familiar tone, sticking close to talking points that have been made before and highlighting the Fed’s willingness to wait as long as is necessary for inflation to ease towards the Fed’s 2% annual target. Investors, hoping for further signs of the Fed stepping towards interest rate cuts, interpreted the appearance as more hawkish than hoped, drawing risk appetite down and bolstering the Greenback.

Fed Chair Powell will give the second half of the Fed’s Monetary Policy Report to the Congressional House Committee on Financial Services on Wednesday. No changes in rhetoric or new information are expected in the follow-up presentation heading into the midweek.

Later in the week, June’s US Consumer Price Index (CPI) inflation is scheduled for Thursday, followed by Friday’s US Producer Price Index (PPI) wholesale inflation, also for June. Core CPI in June is expected to hold steady at 3.4% YoY, while core PPI for the same period is expected to tick upwards to 2.5% from the previous period’s 2.3%. In both cases, meeting forecasts will disappoint markets that are overwhelmingly betting on slowing inflation to deliver at least a quarter-point rate cut from the Fed at the September 18 rate call.

USD/CAD technical outlook

USD/CAD is stuck in place near 1.3640, treading water and moving in a tight cycle as the pair remains unable to break above 1.3650. Last week’s rebound from the last swing low towards 1.3600 failed to muscle the pair back above the 200-hour Exponential Moving Average (EMA) at 1.2656, but bidding pressure remains too high to allow a backslide into fresh lows.

USD/CAD daily candlesticks are mired in a technical trap, caught in congestion between the 200-day EMA at 1.3590 and a supply zone priced in above the last peak near 1.3750.

USD/CAD hourly chart

USD/CAD daily chart

Canadian Dollar FAQs

The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar.

The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive.

The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD.

While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar.

Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FXStreet – https://www.fxstreet.com/news/canadian-dollar-goes-sideways-after-tuesdays-fed-fizzle-202407091632

Tags: businessCanadianDollar
Previous Post

Pound Sterling Price News and Forecast: GBP/USD slips below 1.2800 as ‘evening star’ formation looms

Next Post

US Dollar mildly strengthens following Powell’s Congressional testimony

A major AI training data set contains millions of examples of personal data – MIT Technology Review

A major AI training data set contains millions of examples of personal data – MIT Technology Review

July 18, 2025
Dave Portnoy unites FOX Sports and Barstool with new football, basketball coverage deal – Fox News

Dave Portnoy unites FOX Sports and Barstool with new football, basketball coverage deal – Fox News

July 18, 2025
To see and not be seen: Carangids hide behind sharks to prey on fish – Cattano – 2025 – Ecology – ESA Journals

Mastering the Art of Stealth: How Carangids Turn Sharks into Living Shields to Outsmart Their Prey

July 18, 2025
Science labs move ‘a hammer blow’, says MP – Yahoo

Science labs move ‘a hammer blow’, says MP – Yahoo

July 18, 2025
American science to soon face its largest brain drain in history – Big Think

America’s Science Community Confronts Its Biggest Brain Drain in History

July 18, 2025
Longhorns Daily News: Austin’s fast-paced lifestyle helped inspire former Texas WR Brenen Thompson to transfer to new school – Burnt Orange Nation

Longhorns Daily News: Austin’s fast-paced lifestyle helped inspire former Texas WR Brenen Thompson to transfer to new school – Burnt Orange Nation

July 18, 2025
China’s path to world dominance is being laid by President Trump’s policies, including in Alaska – Alaska Beacon

China’s path to world dominance is being laid by President Trump’s policies, including in Alaska – Alaska Beacon

July 18, 2025
Wall Street’s Big 7 Are Now Bigger Than China’s Entire Economy – MSN

Wall Street’s 7 Biggest Titans Now Outpace the Entire Chinese Economy

July 18, 2025
Bad Bunny, Travis Scott, Saweetie, and All the Songs You Need to Know This Week – Yahoo

Bad Bunny, Travis Scott, Saweetie, and This Week’s Must-Listen Hits

July 18, 2025
‘I just couldn’t stop crying’: How prison affects Black men’s mental health long after they’ve been released – The Conversation

I Just Couldn’t Stop Crying’: The Deep and Lasting Impact of Prison on Black Men’s Mental Health

July 18, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (727)
  • Economy (750)
  • Entertainment (21,635)
  • General (15,970)
  • Health (9,788)
  • Lifestyle (758)
  • News (22,149)
  • People (752)
  • Politics (760)
  • Science (15,967)
  • Sports (21,248)
  • Technology (15,733)
  • World (734)

Recent News

A major AI training data set contains millions of examples of personal data – MIT Technology Review

A major AI training data set contains millions of examples of personal data – MIT Technology Review

July 18, 2025
Dave Portnoy unites FOX Sports and Barstool with new football, basketball coverage deal – Fox News

Dave Portnoy unites FOX Sports and Barstool with new football, basketball coverage deal – Fox News

July 18, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version