The Canadian Dollar is strung across familiar chart territory on Thursday.
Low-tier data from Canada gets swamped out by US PPI inflation figures.
Markets are broadly pivoting toward the countdown to a Fed rate cut next week.
The Canadian Dollar (CAD) struggled to find room on the topside on Thursday, broadly easing back across the major currency boards, and unable to gain ground against the also-soft Greenback. US Producer Price Index (PPI) didn’t really deliver a thunderous inflation print in either direction, but mixed headline price figures helped keep broad-market hopes for a September rate cut afloat.
Canada continues to deliver low-tier, low-impact economic figures that get swamped out by more important data: anything that will confirm or threaten a Federal Reserve (Fed) rate cut expected on September 18.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.