Connect with us

Economics

USD/CAD directionless as US inflation slows

The Canadian dollar is having a quiet Friday session. Early in North American trade, USD/CAD is trading at 1.3181, down 0.09% on the day. US consumer inflation slows The week has wrapped up with key inflation numbers out of the US. The August data was respectable but still softer than the July numbers. Both the […]

Published

on

This article was originally published by Market Pulse

The Canadian dollar is having a quiet Friday session. Early in North American trade, USD/CAD is trading at 1.3181, down 0.09% on the day.

US consumer inflation slows

The week has wrapped up with key inflation numbers out of the US. The August data was respectable but still softer than the July numbers. Both the headline and core readings slowed to 0.6%, down from 0.4%. However, the readings managed to beat the forecasts – the estimate for headline inflation was 0.3%, while the projection for core consumer inflation was 0.2%.

Has the US dollar turned the corner? After weeks of acting as a punching bag for the major currencies, the greenback has rebounded with broad gains this week. USD/CAD has gained close to one percent this week, as the US economy continues to shows signs that the recovery is gaining traction. The Canadian dollar did gain some ground after the Bank of Canada policy meeting on Wednesday, although the bank’s rate statement was essentially a repeat of the July policy statement. As expected, the BoC held rates at 0.25% and said that rates would be maintained until inflation reaches the bank’s inflation target of two percent. Analysts don’t expect that to happen before the year 2023.

.

USD/CAD Technical

 

  • There is resistance at 1.3224. Close by, there is resistance at 1.3255
  • 1.3141 is the next line of support. Below, there is support at 1.3089
  • The 20-day MA remains relevant and is situated just below the pair

us dollar
inflation

Author: Kenny Fisher

Economics

Gun-Parts Dealer Sues ATF Over ‘Secret And Unannounced Policy Changes’

Gun-Parts Dealer Sues ATF Over ‘Secret And Unannounced Policy Changes’

Authored by Ken Silva via The Epoch Times (emphasis ours),

Pennsylvania…

Continue Reading
Economics

Bullwhip Effect Ends With A Bang: Why Prices Are About To Fall Off A Cliff

Bullwhip Effect Ends With A Bang: Why Prices Are About To Fall Off A Cliff

It was exactly a year ago, when Deutsche Bank strategist Luke Templeman…

Continue Reading
Economics

CK Chart Sunday

Since CK loved charts, we will honor her with a weekly (consistent as we can) chart series with addition of a few of our comments. 1. Crypto Crash  Rising…

Continue Reading

Trending