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- Canadian Dollar trapped near familiar levels, gives mixed performance.<\/strong><\/li>\n
- Canada absent from the economic calendar until next week\u2019s GDP.<\/strong><\/li>\n
- US GDP comes in soft, but PCE hints at still high inflation.<\/strong><\/li>\n<\/ul>\n
The Canadian Dollar (CAD) spread on Thursday, giving a mixed performance and sticking close to familiar technical levels after US data printed in both directions early in the US market session. US Gross Domestic Product (GDP) eased more than expected, a boon for investors looking for rate cuts from the US Federal Reserve (Fed). However, inflation continues to be a major sticking point for rate cut hopes after US Personal Consumption Expenditure<\/a> (PCE) inflation climbed even higher than expected.<\/p>\n
Canada is absent from the economic calendar for the remainder of the trading week. The next piece of useful Canadian economic data will be next Tuesday\u2019s Canadian MoM GDP for February. Canada\u2019s S&P Global Manufacturing Purchasing Managers Index (PMI) will also print next Wednesday.<\/p>\n
Daily digest market movers: Canadian Dollar lacks momentum after US data fails to deliver clean picture<\/h2>\n
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- Annualized US GDP for the first quarter eased to 1.6%, declining from the previous 3.4% and falling well short of the forecast of 2.5%.<\/li>\n
- Read more:\u00a0US GDP expands less that expected in Q1<\/a><\/strong><\/li>\n
- Rapidly slowing GDP is a welcome boon for investors desperate for rate cuts from Fed. However, US PCE inflation in Q1 rose to 3.7%, vaulting over forecast of 3.4% and accelerating from previous 2.0%.<\/li>\n
- Rising inflation will keep Fed hobbled on rate cuts, markets churn on mixed print.<\/li>\n
- Friday\u2019s US PCE Price Index will draw additional attention after Thursday\u2019s gloomy bellwether.<\/li>\n
- March\u2019s MoM US PCE Price Index is expected to hold steady at 0.3%, while the YoY figure is expected to tick down to 2.6% from 2.8%.<\/li>\n<\/ul>\n
\nCanadian Dollar price today<\/h2>\n
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
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\n \u00a0<\/td>\n USD<\/strong><\/td>\n EUR<\/strong><\/td>\n GBP<\/strong><\/td>\n CAD<\/strong><\/td>\n AUD<\/strong><\/td>\n JPY<\/strong><\/td>\n NZD<\/strong><\/td>\n CHF<\/strong><\/td>\n<\/tr>\n \n USD<\/strong><\/td>\n \u00a0<\/td>\n -0.15%<\/td>\n -0.24%<\/td>\n -0.06%<\/td>\n -0.10%<\/td>\n 0.22%<\/td>\n 0.00%<\/td>\n -0.04%<\/td>\n<\/tr>\n \n EUR<\/strong><\/td>\n 0.17%<\/td>\n \u00a0<\/td>\n -0.05%<\/td>\n 0.11%<\/td>\n 0.07%<\/td>\n 0.39%<\/td>\n 0.16%<\/td>\n 0.13%<\/td>\n<\/tr>\n \n GBP<\/strong><\/td>\n 0.23%<\/td>\n 0.08%<\/td>\n \u00a0<\/td>\n 0.17%<\/td>\n 0.15%<\/td>\n 0.47%<\/td>\n 0.21%<\/td>\n 0.20%<\/td>\n<\/tr>\n \n CAD<\/strong><\/td>\n 0.11%<\/td>\n -0.06%<\/td>\n -0.13%<\/td>\n \u00a0<\/td>\n -0.01%<\/td>\n 0.30%<\/td>\n 0.09%<\/td>\n 0.05%<\/td>\n<\/tr>\n \n AUD<\/strong><\/td>\n 0.10%<\/td>\n -0.05%<\/td>\n -0.12%<\/td>\n 0.04%<\/td>\n \u00a0<\/td>\n 0.31%<\/td>\n 0.09%<\/td>\n 0.06%<\/td>\n<\/tr>\n \n JPY<\/strong><\/td>\n -0.21%<\/td>\n -0.35%<\/td>\n -0.44%<\/td>\n -0.28%<\/td>\n -0.31%<\/td>\n \u00a0<\/td>\n -0.22%<\/td>\n -0.26%<\/td>\n<\/tr>\n \n NZD<\/strong><\/td>\n 0.04%<\/td>\n -0.12%<\/td>\n -0.20%<\/td>\n -0.04%<\/td>\n -0.07%<\/td>\n 0.25%<\/td>\n \u00a0<\/td>\n 0.02%<\/td>\n<\/tr>\n \n CHF<\/strong><\/td>\n 0.04%<\/td>\n -0.12%<\/td>\n -0.20%<\/td>\n -0.04%<\/td>\n -0.05%<\/td>\n 0.28%<\/td>\n 0.01%<\/td>\n \u00a0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n 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
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Technical analysis: Canadian Dollar trades steady but mixed<\/h2>\n
The Canadian Dollar (CAD) is getting pushed into the middle on Thursday, trading flat to within a quarter of a percent across the major currency board during the US market session. The CAD sees a meager tenth of a percent gain against the US Dollar<\/a> (USD). The Japanese Yen (JPY) is down a quarter of a percent against the Canadian Dollar as the market\u2019s worst-performing currency on the day.<\/p>\n
- Canada absent from the economic calendar until next week\u2019s GDP.<\/strong><\/li>\n
![\"\"](\"https:\/\/editorial.fxstreet.com\/miscelaneous\/USD_CAD-638496583558874895.png\")
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