By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Canadian Dollar remains stable on slow Friday
Share
Notification Show More
Latest News
The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE
L’Oréal Paris Welcomes Yasmine Sabri as New Brand Ambassador for the Middle East
Lifestyle
Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember
Sports World
Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide
Crypto
Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025
Business Crypto
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > Canadian Dollar remains stable on slow Friday
Forex

Canadian Dollar remains stable on slow Friday

News Room
Last updated: 2024/05/18 at 8:16 PM
News Room
Share
3 Min Read
SHARE

The Canadian Dollar (CAD) traded softly on Friday in low volatility markets as Canada geared up for a long weekend. The CAD stuck close to the midrange after a hectic week that saw rate cut expectations from the Federal Reserve (Fed) rise due to easing US Consumer Price Index (CPI) inflation growth. Canadian traders are on holiday until Tuesday, when the latest CPI inflation update will be released. Fedspeak is expected to dominate headlines as investors look for signs of rate cuts amidst easing inflation figures.

Foreign Portfolio Investment in Canada rose above expectations in March, indicating positive market movement. The US CPI inflation cooling further this week has fueled hopes for rate cuts. CME’s FedWatch Tool is showing odds of at least a quarter-point cut in September at nearly 70%. Fed officials are set to make appearances next week at the Federal Reserve Bank of Atlanta’s Financial Markets Conference, where investors will be keen on any signs of dovish language in the latest Meeting Minutes from the Federal Open Market Committee (FOMC).

Next week, we can expect a range of Fedspeak to continue dominating headlines as investors watch for any signs of rate cuts. The Canadian Dollar has seen mixed performance against other major currencies this week, with notable strength against the Swiss Franc. Technical analysis shows the CAD trading within familiar territory on Friday, with USD/CAD sticking to recent technical levels. The CAD is looking firm against the Dollar within intraday trading levels.

Key factors impacting the Canadian Dollar include interest rates set by the Bank of Canada, Oil prices, the health of the economy, inflation, and the Trade Balance. The BoC plays a significant role in influencing the CAD through interest rate adjustments to maintain inflation levels. Higher Oil prices tend to boost the CAD due to increased demand for the currency. Inflation, when managed properly, can attract capital inflows and strengthen the CAD. Macroeconomic data releases can also impact the CAD based on the health of the economy.

In conclusion, the Canadian Dollar is taking a breather on Friday amidst easy markets as traders prepare for a long weekend. Fedspeak and upcoming data releases will be closely watched for signs of rate cuts and economic health. The CAD has seen positive movement in Foreign Portfolio Investment and rate cut expectations in the US. Technical analysis shows the CAD trading steadily within ranges against major currencies. Key factors such as Oil prices, interest rates, and economic data will continue to influence the Canadian Dollar moving forward. Investors will be keeping a close eye on market developments to gauge the strength of the CAD in the coming weeks.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room May 18, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Ronaldo named the world’s highest-earning athlete as Saudi Pro League players dominate Forbes list.
Next Article SEC to pursue Ripple (XRP) for $2 billion, Tether (USDT) increases investment in CityPay, Can Rollblock (RBLK) potentially surge by 1200%?
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE May 27, 2025
L’Oréal Paris Welcomes Yasmine Sabri as New Brand Ambassador for the Middle East
Lifestyle May 23, 2025
Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember
Sports World May 22, 2025
Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide
Crypto May 22, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?