- \n
- Canadian Dollar gets pushed around as investors focus elsewhere.<\/strong><\/li>\n
- Canada absent from economic calendar until next week.<\/strong><\/li>\n
- US PCE inflation remains higher than expected, weighing on rate cut hopes.<\/strong><\/li>\n<\/ul>\n
The Canadian Dollar (CAD) took a back seat to broader market flows on Friday as investor focus remains pinned on decaying hopes for a rate cut from the Federal Reserve (Fed). US Personal Consumption Expenditure<\/a> (PCE) Price Index figures came in above expectations on Friday, weighing further on rate trim expectations.<\/p>\n
Canada will not release meaningful data until next Tuesday\u2019s Gross Domestic Product (GDP) print, but all eyes will be on the Fed\u2019s upcoming rate call next Wednesday. Markets will also be gearing up for another Nonfarm Payrolls (NFP) next week as investors look further out for signs of a slowdown in the US economy that could spark rate cuts.<\/p>\n
Daily digest market movers: US PCE inflation remains stubbornly hot<\/h2>\n
- \n
- Core US PCE Price Index inflation held steady in March, printing at the expected steady 0.3%.<\/li>\n
- YoY Core PCE Price Index also held steady at 2.8%, flaunting the forecast of 2.6%.<\/li>\n
- Annualized headline PCE Price Index for the year ended March ticked higher to 2.7% versus the expected 2.6%, accelerating from the previous 2.5%.<\/li>\n
- With inflation stubbornly high, hopes for a September rate cut are eroding.<\/li>\n
- According to the CME\u2019s FedWatch Tool, rate markets only see 60% odds of a September Fed rate trim.<\/li>\n
- Read more:\u00a0US Core PCE inflation holds steady at 2.8% vs. 2.6% expected<\/a><\/strong><\/li>\n<\/ul>\n
<\/p>\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
\n\n
\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 0.24%<\/td>\n 0.16%<\/td>\n 0.15%<\/td>\n -0.23%<\/td>\n 1.55%<\/td>\n 0.28%<\/td>\n 0.25%<\/td>\n<\/tr>\n \n EUR<\/strong><\/td>\n -0.25%<\/td>\n \u00a0<\/td>\n -0.09%<\/td>\n -0.08%<\/td>\n -0.48%<\/td>\n 1.32%<\/td>\n 0.04%<\/td>\n 0.01%<\/td>\n<\/tr>\n \n GBP<\/strong><\/td>\n -0.16%<\/td>\n 0.07%<\/td>\n \u00a0<\/td>\n 0.01%<\/td>\n -0.40%<\/td>\n 1.40%<\/td>\n 0.10%<\/td>\n 0.10%<\/td>\n<\/tr>\n \n CAD<\/strong><\/td>\n -0.17%<\/td>\n 0.07%<\/td>\n 0.00%<\/td>\n \u00a0<\/td>\n -0.41%<\/td>\n 1.39%<\/td>\n 0.10%<\/td>\n 0.09%<\/td>\n<\/tr>\n \n AUD<\/strong><\/td>\n 0.15%<\/td>\n 0.41%<\/td>\n 0.32%<\/td>\n 0.33%<\/td>\n \u00a0<\/td>\n 1.72%<\/td>\n 0.43%<\/td>\n 0.42%<\/td>\n<\/tr>\n \n JPY<\/strong><\/td>\n -1.77%<\/td>\n -1.53%<\/td>\n -1.62%<\/td>\n -1.60%<\/td>\n -2.01%<\/td>\n \u00a0<\/td>\n -1.50%<\/td>\n -1.51%<\/td>\n<\/tr>\n \n NZD<\/strong><\/td>\n -0.28%<\/td>\n -0.03%<\/td>\n -0.10%<\/td>\n -0.10%<\/td>\n -0.51%<\/td>\n 1.30%<\/td>\n \u00a0<\/td>\n -0.01%<\/td>\n<\/tr>\n \n CHF<\/strong><\/td>\n -0.26%<\/td>\n 0.04%<\/td>\n -0.09%<\/td>\n -0.09%<\/td>\n -0.48%<\/td>\n 1.37%<\/td>\n 0.03%<\/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
<\/p>\n
Technical analysis: Canadian Dollar plays second fiddle to US Dollar flows<\/h2>\n
The Canadian Dollar (CAD) mixed on Friday, playing a quiet counterparty to broader market focus. The CAD\u00a0gained 1.39% on the day against the Japanese Yen as markets short the Yen wholesale. The CAD ended down four-tenths of a percent against the Australian Dollar (AUD) and about a fifth of a percent against the US Dollar<\/a> (USD).<\/p>\n
- Canada absent from economic calendar until next week.<\/strong><\/li>\n
![\"\"](\"https:\/\/editorial.fxstreet.com\/miscelaneous\/USD_CAD-638497630483585048.png\")
<\/h2>\n