{"id":215017,"date":"2023-12-18T22:41:42","date_gmt":"2023-12-18T17:11:42","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=215017"},"modified":"2023-12-18T22:41:42","modified_gmt":"2023-12-18T17:11:42","slug":"canadian-dollar-eases-back-slightly-canadian-cpi-in-the-barrel-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/canadian-dollar-eases-back-slightly-canadian-cpi-in-the-barrel-crypto-news\/","title":{"rendered":"Canadian Dollar eases back slightly, Canadian CPI in the barrel &#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>Canadian Dollar pares back some of last Friday\u2019s gains ahead of Canadian CPI on Tuesday.<\/strong><\/li>\n<li><strong>Monday\u2019s economic calendar has a thin docket, but key data to wrap up 2023 due this week.<\/strong><\/li>\n<li><strong>CAD and crude Oil diverge as WTI recovers some ground on Monday.<\/strong><\/li>\n<\/ul>\n<p>The Canadian Dollar (CAD) is pulling back in the bids to kick off the last two weeks of trading in 2023, with a final print of StatsCAN\u2019s Canadian Consumer Price Index (CPI) inflation on the docket for Tuesday.\u00a0<\/p>\n<p>On top of muddying the waters by reporting its own version of Canadian CPI on Tuesday, the Bank of Canada (BoC) will publish its latest Summary of Deliberations on Wednesday. Thursday\u2019s Canadian Retail Sales and Friday\u2019s Canadian <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">Gross Domestic Product<\/a> (GDP) will be overshadowed by counterpart US data punching in a higher weight class.<\/p>\n<h2 class=\"fxs_headline_medium\">Daily Digest Market Movers: Canadian Dollar markets coil ahead of 2023\u2019s final inflation print<\/h2>\n<ul>\n<li>Monday opens quietly heading into the final turn of the trading year.<\/li>\n<li>The CAD is paring back slightly on Monday, falling or flattening against nearly all other major currencies.<\/li>\n<li>The Loonie slipped a tenth\u00a0of a percent against the US Dollar (USD) but climbed four-tenths of one\u00a0percent against the Japanese Yen (JPY) as the Yen outpaced the Canadian Dollar to be the weakest currency in Monday trading.<\/li>\n<li>Canadian Consumer Price Index inflation on Tuesday is expected to show further cooling in consumer-facing prices, with the YoY figure forecast to tick down from 3.1% to 2.9%. November\u2019s MoM CPI is also expected to see a return to cooling territory, slated to fall to -0.2% from October\u2019s 0.1%.<\/li>\n<li>The BoC\u2019s Summary of Deliberations is due on Wednesday but is unlikely to reveal much new information that wasn\u2019t already discussed at length by BoC Governor Tiff Macklem at last Friday\u2019s speaking event.<\/li>\n<li>BoC Macklem: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/news\/boc-macklem-its-still-too-early-to-consider-cutting-our-policy-rate-202312151743\">It\u2019s still too early to consider cutting our policy rate<\/a><\/li>\n<li>Thursday\u2019s Canadian Retail Sales for October are forecast to improve to 0.8% from September\u2019s 0.6%, and Friday\u2019s Canadian Gross Domestic Product print is forecast to round out the trading year with an upbeat expectation of 0.2% in October versus September\u2019s 0.1%.<\/li>\n<\/ul>\n<p><!--CURRENCIES MODULE STARTS HERE--><\/p>\n<div data-cnt-module-topic=\"canadian-dollar\" data-cnt-module-type=\"currencyprices\" id=\"content-module-currencyprices-canadian-dollar\">\n<h2>Canadian Dollar price today<\/h2>\n<p>The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the strongest against the Japanese Yen.<\/p>\n<table border=\"1\" style=\"width: 100%;text-align: center;border-collapse: collapse;font-size: 1.8svh\">\n<tbody>\n<tr>\n<td style=\"background-color: #F2F2F2\">\u00a0<\/td>\n<td style=\"background-color: #F2F2F2\"><strong>USD<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>EUR<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>GBP<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>CAD<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>AUD<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>JPY<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>NZD<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>CHF<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>USD<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.24%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.34%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.09%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.03%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.49%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.06%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.30%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>EUR<\/strong><\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.22%<\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.54%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.34%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.27%<\/td>\n<td style=\"background-color:#39AD9A;color: #fff\">0.74%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.30%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.06%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>GBP<\/strong><\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.30%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.54%<\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.22%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.27%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.19%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.25%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.60%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>CAD<\/strong><\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.10%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.34%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.20%<\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.07%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.40%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.04%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.39%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>AUD<\/strong><\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.03%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.27%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.31%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.07%<\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.46%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.03%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.32%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>JPY<\/strong><\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.49%<\/td>\n<td style=\"background-color:#F55E6A;color: #fff\">-0.72%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.16%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.40%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.48%<\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.42%<\/td>\n<td style=\"background-color:#F55E6A;color: #fff\">-0.79%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>NZD<\/strong><\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.07%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.30%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.24%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.04%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.04%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.43%<\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.36%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>CHF<\/strong><\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.29%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.06%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.60%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.38%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.32%<\/td>\n<td style=\"background-color:#39AD9A;color: #fff\">0.79%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.35%<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"font-size: 11px\">The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)\/JPY (quote).<\/p>\n<\/div>\n<p><!--CURRENCIES MODULE ENDS HERE--><\/p>\n<h2 class=\"fxs_headline_medium\">Technical Analysis: The Canadian Dollar\u2019s Monday pause could give way to full-blown pullback if Greenback bidders catch Loonie bulls with their pants down<\/h2>\n<p>Monday sees the Canadian Dollar pulling back into 1.3400 against the US Dollar in a slight paring back from recent bullish momentum. The Canadian Dollar\u2019s three-day bull run last week saw the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/usdcad\">USD\/CAD<\/a> tip into multi-month highs near 1.3350 after falling from last week\u2019s highs near the 1.3600 handle.<\/p>\n<p>The pair is down over three and a half percent from November\u2019s early high just below 1.3900, but last week\u2019s clean break of the 200-day Simple Moving Average (SMA) near 1.3500 could see the USD\/CAD primed for a pullback.<\/p>\n<p>If Loonie bidding doesn\u2019t return meaningfully to push the pair back down to 2023\u2019s bottom bids near 1.3100, the ceiling on a bullish rebound for the Greenback might not firm up until bids return to the 50-day SMA descending into 1.3650.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/CAD Hourly Chart<\/h2>\n<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/CAD Daily Chart<\/h2>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/USD_CAD-638385158044223550.png\" style=\"width: 898px;height: 697px\" \/><\/p>\n<p><!--FAQ CONTENT MODULE STARTS HERE--><\/p>\n<div data-cnt-module-topic=\"cad\" data-cnt-module-type=\"faq\" id=\"content-module-faq-cad\">\n<div class=\"fxs-content-module-wrapper\">\n<h2 class=\"fxs-content-module-title\">Canadian Dollar FAQs<\/h2>\n<section class=\"fxs-content-module-section\">\n<p class=\"fxs-content-module-content\">The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada\u2019s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada\u2019s exports versus its imports. Other factors include market sentiment \u2013 whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) \u2013 with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar.<\/p>\n<\/section>\n<section class=\"fxs-content-module-section\">\n<p class=\"fxs-content-module-content\">The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive.<\/p>\n<\/section>\n<section class=\"fxs-content-module-section\">\n<p class=\"fxs-content-module-content\">The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada\u2019s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD.<\/p>\n<\/section>\n<section class=\"fxs-content-module-section\">\n<p class=\"fxs-content-module-content\">While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada\u2019s case is the Canadian Dollar.<\/p>\n<\/section>\n<section class=\"fxs-content-module-section\">\n<p class=\"fxs-content-module-content\">Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.<\/p>\n<\/section>\n<\/div>\n<p><!--FAQ CONTENT MODULE ENDS HERE--><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: Canadian Dollar pares back some of last Friday\u2019s gains ahead of Canadian CPI on Tuesday. Monday\u2019s economic calendar has a thin docket, but key data to wrap up 2023 due this week. CAD and crude Oil diverge as WTI recovers some ground on Monday. The Canadian Dollar (CAD) is pulling back in the bids [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":12745,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,842,257,255,250,252,247,253,249,5212,498,256,254],"class_list":["post-215017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cpi","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-seo","tag-usdcad","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/215017","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=215017"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/215017\/revisions"}],"predecessor-version":[{"id":215019,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/215017\/revisions\/215019"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/12745"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=215017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=215017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=215017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}