MCDMAIN Micro CAD/USD Futures(SEP4)
- 0.7324
- +0.0003+0.04%
Micro CAD/USD Futures(SEP4) News
Canadian Dollar Finds a Bounce on Thursday, Extends Meager Gains
The Canadian Dollar (CAD) found some room on the high side on Thursday, adding to the week’s thin gains.
The Bank of Canada had considered waiting until July to cut interest rates.
The central bank's management committee of six members considered waiting for more consumer price data to "further confirm" that it was time to start easing monetary policy. Ultimately, they decided to cut the policy rate to 4.75% at the meeting on June 5. A summary of these deliberations was released on Wednesday.
Canadian Dollar Gives Mixed Performance on Holiday-thinned Wednesday
The Canadian Dollar (CAD) is treading water on Wednesday, trading within a scant tenth of a percent against its largest peer — the US Dollar (USD). US markets are shuttered for the midweek Juneteenth holiday, thinning out market volumes as investors look ahead to key data prints on Friday.
Canadian Dollar Gets Pulled in Both Directions on Data-light Tuesday
The Canadian Dollar (CAD) is broadly mixed on Tuesday as CAD traders find their focus pulled elsewhere. A data-light week has sent the Canadian Dollar adrift, giving a mixed performance against the major currencies board.
Canadian Dollar Holding up Better Than Expected – Scotiabank
The Canadian Dollar (CAD) is a little softer on the day but continues to range trade between the recent US Dollar (USD) peak and trough, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Canadian Dollar in a Holding Pattern as Markets Await Meaningful Data
The Canadian Dollar (CAD) is trading tightly on Monday, with gains and losses mixed across the board and within a quarter of a percent against most of its major currency peers.
BMO Sees Case For Another Canada Rates Cut Bolstered; Meantime, Awaits Housing Data
BMO Economics in its morning note said last week's rally, fuelled by "encouraging" CPI progress in the U.S., boosted rate cut expectations in Canada as well.
Canadian Dollar Brushes off Low-tier Data Misses to Find Mild Recovery on Friday
The Canadian Dollar (CAD) found a thin recovery on Friday, gaining ground against most of its major currency peers and clawing back a scant tenth of a percent against the US Dollar (USD).
Statistics Canada Reports Manufacturing Sales up 1.1% at $70.8B in April
The increase followed a decline of 1.8 per cent in March.
Canada's central bank cuts interest rates against the trend, experts call for continued adjustment of interest rate policies and vigilance against the weakness of the Canadian dollar.
The Bank of Canada stated, "Overall, recent data suggests that the economy is still running in an over-supplied situation." Only two interest rate cuts by the Bank of Canada have been priced in by the market from now until the end of this year. However, the major risk in the future is the weakness of the Canadian dollar.
Canadian Dollar Pares Away Gains on Thursday
The Canadian Dollar (CAD) pared back recent gains against the US Dollar (USD) on Thursday, shedding a quarter of a percent against the USD as market flows pull back to safety and bolster the Greenback.
BoC's Kozicki: BoC to End Quantitative Tightening in 2025
Bank of Canada (BoC) Deputy Governor Sharon Kozicki noted on Thursday that the BoC is set to end its quantitative easing program and that future applications of QE will have a very high bar to pass before accessing additional monetary policy mechanisms.
Bank of Canada cuts rates ahead of time, analyst says interest rate spread may lead to depreciation of the Canadian dollar.
This week, the Bank of Canada cut its policy rate by 0.25 percentage points, but people began to question how much the gap between the key interest rates of the two countries would widen as it is expected that the Federal Reserve will hold the overnight interest rate steady until autumn.
After the Bank of Canada fired the first shot in G7's interest rate cut, the market expects at least two more rate cuts this year.
Economists predict that the Bank of Canada will cut interest rates at least twice more in 2024 and that the interest rate will fall to 4.25% or 4%.
Canadian Dollar Flattens on Thursday as Markets Await US NFP
The Canadian Dollar (CAD) settled into a holding pattern on Thursday as markets batten down the hatches ahead of Friday’s key labor data from both the US and Canada. Investors are still leaning into bets of a September rate cut from the US Federal Reserve (Fed), but chances of a push-out to November are still on the cards.
Statistics Canada Reports Country Posted $1B Merchandise Trade Deficit for April
Canada posted a merchandise trade deficit of $1.0 billion in April, as exports of natural gas and crude oil climbed higher, Statistics Canada said Thursday.
Bank of Canada's Pivot Opens Path for Others to Diverge From Fed
Bank of Canada Governor Tiff Macklem led the Group of Seven in lowering interest rates, and his confidence may help reassure other central banks that they can launch into cuts before the Federal Reserve.
The Bank of Canada cuts interest rates to 4.75%, implying further cuts in the future.
The Bank of Canada has lowered its interest rate by 0.25 percentage points, becoming the first central bank in the G7 to start a loose monetary policy cycle.
Canadian Dollar Churns on Wednesday After BoC Rate Cut
Canadian Dollar loses minor ground against Greenback after BoC rate cut.
Bank of Canada's Macklem Signals 'Gradual' Rate-Cut Path -- Market Talk
Bank of Canada Gov. Tiff Macklem says he expects interest rates to come down on a gradual basis, in line with its own inflation forecast.