{"id":138062,"date":"2023-09-02T04:34:13","date_gmt":"2023-09-01T23:04:13","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138062"},"modified":"2023-09-02T04:34:13","modified_gmt":"2023-09-01T23:04:13","slug":"usd-cad-soars-to-a-three-month-high-above-1-3500-post-fomc-minutes-release-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/usd-cad-soars-to-a-three-month-high-above-1-3500-post-fomc-minutes-release-crypto-news\/","title":{"rendered":"USD\/CAD soars to a three-month high, above 1.3500 post-FOMC minutes release &#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>Fed officials unanimously aim for the 2% inflation target, but divisions arise on the next steps.<\/strong><\/li>\n<li><strong>The US Dollar Index (DXY) reflects the greenback\u2019s strength, rising 0.29% to 103.497, supported by rising US Treasury bond yields.<\/strong><\/li>\n<li><strong>USD\/CAD\u2019s bullish momentum is evident as it trades above the 200-day Moving Average, with key levels around the 1.3545 high and the R1 pivot at 1.3520.<\/strong><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/usdcad\">USD\/CAD<\/a> climbs above 1.3500 and refreshes a three-month high at 1.3539 after the Federal Open Market Committee (FOMC) revealed its July monetary policy minutes, offering split views amongst Fed board members while committing to its goal of inflation of 2%. The USD\/CAD is trading at around 1.3520\/40 amidst a volatile session, with more than 0.20% gains.<\/p>\n<h2 class=\"fxs_headline_medium\">Federal Reserve\u2019s divided stance on rate hikes propels the pair above the 1.3500 mark, with the greenback gaining ground<\/h2>\n<p>The minutes highlighted a unanimous commitment among all Federal Reserve officials to their goal of reducing inflation to the targeted 2%. Concurrently, most participants evaluated that the potential for elevated inflation risks would necessitate additional tightening measures.<\/p>\n<p>However, a division within the Fed board became evident regarding monetary policy, as a \u201cfew\u201d members advocated for maintaining the existing interest rates. Among them, Atlanta\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\">Fed President Raphael Bostic<\/a> consistently voiced his stance in favor of unchanged <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/rates\">rates<\/a>. Recently, Philadelphia\u2019s Fed President Patrick Harker echoed some of Bostic\u2019s comments as it turned more neutral.<\/p>\n<p>Despite the economy\u2019s demonstrated resilience, lingering concerns remain about potential downward impacts on economic activity and the potential risks associated with a rise in the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">unemployment rate<\/a>.<\/p>\n<p>Federal Reserve officials agreed that forthcoming rate decisions would be based on a comprehensive assessment of incoming data while adopting a cautious approach in the upcoming months.<\/p>\n<p>Amid these developments, the greenback is recovering some ground, as shown by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\">the US Dollar Index<\/a> (DXY) gaining 0.29%, at 103.497, underpinned by higher US Treasury bond yields.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/CAD Reaction<\/h2>\n<p>Following the data release, the USD\/CAD edged towards its daily high of 1.3545, followed by a dip towards the R1 pivot at 1.3520, before edging towards the current exchange rate. The USD\/CAD is trading back above the 200-day Moving Average (DMA), which sits at 1.3448, portraying a bullish bias.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-638278129113426897.png\"><\/a><\/p>\n<h3 class=\"fxs_headline_medium\">USD\/CAD Technical Levels<\/h3>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: Fed officials unanimously aim for the 2% inflation target, but divisions arise on the next steps. The US Dollar Index (DXY) reflects the greenback\u2019s strength, rising 0.29% to 103.497, supported by rising US Treasury bond yields. USD\/CAD\u2019s bullish momentum is evident as it trades above the 200-day Moving Average, with key levels around the [&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":[201,248,251,246,257,276,255,250,277,252,247,253,249,498,256,254],"class_list":["post-138062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-gta","tag-looks-rare","tag-majors","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-usdcad","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138062","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=138062"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138062\/revisions"}],"predecessor-version":[{"id":138063,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138062\/revisions\/138063"}],"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=138062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}