USD/CAD licks its wounds around 1.3350 as Oil bulls take a breather, US inflation eyed – by anilpanchal7 USDCAD RiskAppetite Oil Inflation Fed
Strong Canada jobs report, firmer Oil price allowed Loonie bears to sneak in.seesaws around the mid-1.3300s during the early hours of Monday’s Asian session, after falling the most in five weeks the previous day. In doing so, the Loonie pair portrays the market’s consolidation ahead of the key US Consumer Price Index data amid mixed clues from the United States.
Elsewhere, Canada’s Net Change in Employment grew past 15K expected and 69.2K prior to 150K for January. Further, the Unemployment Rate also reprinted 5.0% versus 5.1% expected. On the other hand, the preliminary readings of the US University of Michigan Consumer Sentiment for February rose to 66.4 versus 65.0 expected and 64.9 prior. Further, the UoM noted that the year-ahead inflation expectations rebounded to 4.2% this month, from 3.9% in January and 4.4% in December. “Long-run inflation expectations remained at 2.9% for the third straight month and stayed within the narrow 2.9-3.1% range for 18 of the last 19 months,” Stated UoM.
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