Is the Bank of Canada nearing an interest rate cut? Will they take the first step in June?

Since 2024, Canada's inflation has been developing in the right direction, with investors believing that there is over an 80% chance of a rate cut in June.

FX678 Finance14:02 ET

There is a high probability that the Bank of Canada will cut interest rates this week. The US and Canada are expected to fall below 1.3601 support and look at 1.3400

Market analyst Saqib Iqbal wrote that the USD/CAD weekly forecast shows more downside potential because the Bank of Canada is likely to cut interest rates this week, far ahead of the Federal Reserve. On the technical side, USD/CAD has fallen below the bullish trend line and is approaching the 1.3601 support level.

FX678 FinanceJun 3 01:36 ET

Canadian Dollar claws back ground after Greenback softens on Thursday

The Canadian Dollar (CAD) is rebounding on Thursday, recovering ground previously lost in the midweek market session as broad market flows in the Greenback dictate overall market sentiment.

FXStreetMay 30 13:20 ET

Canadian Core Inflation Measures Set to Remain Relatively Muted -- Market Talk

The stage is set for Canadian headline and core inflation to reach the central bank's 2% target on a sustained basis by early next year, even if core price growth accelerates somewhat from the muted start to the year, Capital Economics' Olivia Cross suggests.

WSJMay 30 10:59 ET

Canada Q1 Current Account Deficit Expands to $5.4 Billion; Canadians Buy Record $37 Billion in Foreign Bonds in Quarter

Canada posted a seasonally adjusted current account deficit of $5.4 billion in the first quarter, $900 million more than the previous quarter as the goods balance moved from a surplus into a deficit, the country's statistical agency said on Thursday.

MT NewswiresMay 30 09:05 ET

Canadian Dollar recedes on Wednesday as Greenback rebounds

The Canadian Dollar is softening across the board on Wednesday, shedding weight as the safe haven Greenback catches a broad-market bid.

FXStreetMay 29 12:57 ET