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USD/CAD climbs as falling oil prices and risk aversion

The US dollar is strong across the board today but nowhere is it stronger than against its Canadian counterpart. USD/CAD is up 45 pips to 1.3433, or 0.3%, to pace the FX market.Today's Canadian PPI data emphasized the u-turn in Canadian price pressures as the y/y reading fell into negative territory.That decline underscores the Bank of Canada's forecast that CPI inflation will fall to 3% this summer and that could lay the groundwork for the BOC eventually cutting rates. Canada's central bank was... Read More

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Content Topics

Usd

Cad

Climbs

Falling

Prices

Risk

Aversion

Usd cad

Forex

Posted: Apr 19 2023, 13:16

Author Name: forexlive

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