USD/CAD holds above the 1.3220 mark ahead of FOMC decision – by lilyfinancial USDCAD Majors
USD/CAD remains steady around the 1.3225 mark after gaining momentum from softer Canadian Retail Sales.Investors will take cues from the Federal Reserve's policy decision, Fed Chair Jerome Powell’s speech.
On Friday, Statistics Canada revealed that Canadian Retail Sales MoM rose 0.2% compared to the 0.5% expected and 1.0% the previous month. Also, Retail Sales ex-autos fell short of expectations, with a 0.0% increase in May, against the consensus of 0.3% and a 1.2% increase in April. The softer Canadian Retail Sales data weighed on the CAD and lifted the USD/CAD pair.
Meanwhile, the renewed tension between Russia and Ukraine might further tighten oil supplies. This in turn, might cap the upside in the USD/CAD pair and lift the commodity-linked Loonie.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pairs in Focus This Week \u2013 GBP/USD, EUR/USD, Silver, USD/CADGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of July 23rd, 2022 here.
Read more »
Trading Support and Resistance \u2013 EUR/USD, USD/CADThis week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
Read more »
EUR/USD holds steady above 1.1100 mark, eyes flash Euro Zone/US PMIs for some impetusThe EUR/USD pair kicks off the new week on subdued note and oscillates in a narrow trading band around the 1.1125-1.1130 area through the Asian sessio
Read more »
Cambodia holds lopsided election ahead of historic transfer of powerCambodia holds a one-sided election on Sunday that is certain to prolong the ruling party's dominance of politics, clearing the path for a historic leadership transition and the end of the reign of one of the world's longest-serving premiers.
Read more »