{"id":137381,"date":"2023-09-02T05:54:29","date_gmt":"2023-09-02T00:24:29","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=137381"},"modified":"2023-09-02T05:54:29","modified_gmt":"2023-09-02T00:24:29","slug":"usd-cad-drops-near-1-3450-as-us-dollar-extends-losses-canadian-cpi-turns-out-persistent-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/usd-cad-drops-near-1-3450-as-us-dollar-extends-losses-canadian-cpi-turns-out-persistent-crypto-news\/","title":{"rendered":"USD\/CAD drops near 1.3450 as US Dollar extends losses, Canadian CPI turns out persistent &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>USD\/CAD drops sharply to near 1.3450 as US Dollar loses resilience.<\/strong><\/li>\n<li><strong>US Retail Sales for July expanded at a stronger pace of 0.7% amid higher disposable income.<\/strong><\/li>\n<li><strong>Canadian inflation expanded at a robust pace, discomforting BoC policymakers.<\/strong><\/li>\n<\/ul>\n<p>The USD\/CAD pair witnesses selling pressure after sensing immense selling interest near a two-month high of around 1.3500 in the early New York session. The Loonie asset dropped amid a sell-off in the US Dollar despite upbeat <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/news\/us-retail-sales-preview-strong-july-reading-could-help-us-dollar-stage-another-rally-202308150539\">United States Retail Sales<\/a> and higher-than-expected Canadian inflation data for July.<\/p>\n<p>S&amp;P500 opens on a negative note as robust consumer spending momentum elevates consumer inflation expectations. The US Dollar Index tests territory below the crucial support of 103.00.<\/p>\n<p>US Census Bureau reported that consumer spending in July expanded at a higher momentum. The economic data rose by 0.7% vs. expectations of 0.4% and the former release of 0.2%. It seems that higher disposable income due to sustained wage growth allows individuals to spend heavily. Retail Sales excluding automobiles rose by 1.0%, indicating robust demand for durables and quick consumables.<\/p>\n<p>A moderate increase in inflation and resilient consumer spending would force the Federal Reserve (Fed) to keep interest rates higher for a longer period. Going forward, investors will focus on the Federal Open Market Committee (FOMC) minutes for July\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">monetary policy<\/a>, which will be released on Wednesday.<\/p>\n<p>Meanwhile, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/usdcad\">Canadian Dollar<\/a> strengthens as the Consumer Price Index (CPI) for July expanded strongly. Headline CPI grew at a 0.6% pace, outperforming surprisingly higher estimates of 0.3%. Core inflation that excludes volatile oil and food prices expanded strongly by 0.5%. Annual headline inflation accelerated to 3.3% while core CPI remained stable at 3.2%. Hotter-than-expected Canadian inflation would discomfort Bank of Canada (BoC) policymakers and force them to deliver hawkish commentary.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: USD\/CAD drops sharply to near 1.3450 as US Dollar loses resilience. US Retail Sales for July expanded at a stronger pace of 0.7% amid higher disposable income. Canadian inflation expanded at a robust pace, discomforting BoC policymakers. The USD\/CAD pair witnesses selling pressure after sensing immense selling interest near a two-month high of around [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,697,248,251,246,257,366,255,388,250,252,247,253,791,249,498,256,254],"class_list":["post-137381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-boc","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-fed","tag-gta","tag-inflation","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-retailsales","tag-safe-moon","tag-usdcad","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=137381"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137381\/revisions"}],"predecessor-version":[{"id":148444,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137381\/revisions\/148444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/5162"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=137381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=137381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=137381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}