{"id":259126,"date":"2024-03-05T06:47:26","date_gmt":"2024-03-05T01:17:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=259126"},"modified":"2024-03-05T06:47:26","modified_gmt":"2024-03-05T01:17:26","slug":"usd-cad-holds-below-the-1-3600-barrier-eyes-on-boc-rate-decision-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/usd-cad-holds-below-the-1-3600-barrier-eyes-on-boc-rate-decision-crypto-news\/","title":{"rendered":"USD\/CAD holds below the 1.3600 barrier, eyes on BoC rate decision &#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 remains flat around 1.3575 in Tuesday\u2019s early Asian session.\u00a0<\/strong><\/li>\n<li><strong>Fed\u2019s Bostic said there\u2019s no urgency to cut interest rates given the US economy&#8217;s strength.\u00a0<\/strong><\/li>\n<li><strong>The BoC is expected to hold rates at 5% at its June meeting on Wednesday.<\/strong><\/li>\n<\/ul>\n<p>The USD\/CAD pair holds below the 1.3600 barrier during the early Asian trading hours on Tuesday. The Bank of Canada (BoC) will announce the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\" data-fxs-autoanchor=\"\">interest rate decision<\/a> on Wednesday, with no change in rate expected. Meanwhile, the decline in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/markets\/commodities\/energy\/oil\" data-fxs-autoanchor=\"\">oil prices<\/a> weighs on the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/usdcad\" data-fxs-autoanchor=\"\">Loonie<\/a> and provides some support to the USD\/CAD pair. At press time, the pair is trading at 1.3575, unchanged for the day.\u00a0<\/p>\n<p>The Federal Reserve (Fed) is expected to maintain the benchmark interest rate in the 5.25% to 5.5% range at its March meeting. The financial market has priced in the first rate cuts in June, but this might change if inflation stalls or wages continue to beat forecasts. Fed President <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\" data-fxs-autoanchor=\"\">Raphael Bostic<\/a> said on Monday that the central bank is under no urgent pressure to cut interest rates given a prospering economy and job market.\u00a0<\/p>\n<p>On the other hand, the\u00a0Bank of Canada\u00a0(BoC) is widely expected to hold its key interest rate at 5.0% on Wednesday. Investors have priced an 80% odd that the first rate cut to come in around June. The press conference might offer some hints about the timing of rate cuts. Dovish remarks from the BoC governor could exert some selling pressure on the Canadian Dollar (CAD).\u00a0<\/p>\n<p>Market players will focus on the US ISM Services PMI, which is estimated to ease from 53.4 in January to 53.0 in February. Later this week, Fed Chairman Jerome Powell\u2019s Senate testimony will be a closely watched event ahead of the US <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/economic-indicator\/nfp\" data-fxs-autoanchor=\"\">Nonfarm Payrolls<\/a> (NFP) on Friday.\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: USD\/CAD remains flat around 1.3575 in Tuesday\u2019s early Asian session.\u00a0 Fed\u2019s Bostic said there\u2019s no urgency to cut interest rates given the US economy&#8217;s strength.\u00a0 The BoC is expected to hold rates at 5% at its June meeting on Wednesday. The USD\/CAD pair holds below the 1.3600 barrier during the early Asian trading hours [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7489,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,697,248,251,246,257,255,250,333,277,252,247,253,249,498,256,254],"class_list":["post-259126","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-gta","tag-looks-rare","tag-macroeconomics","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\/259126","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=259126"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/259126\/revisions"}],"predecessor-version":[{"id":259127,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/259126\/revisions\/259127"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/7489"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=259126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=259126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=259126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}