<\/p>\n
The USD\/CAD pair posts modest gains around 1.3665 on Tuesday during the early Asian trading hours. A modest rebound of the US Dollar<\/a> (USD)\u00a0provide some support to\u00a0the pair. Meanwhile, the decline in oil prices weighs on the commodity-linked Loonie. Investors will\u00a0keep an eye on\u00a0the Canadian February Gross Domestic Product (GDP) growth number.\u00a0The attention will shift to\u00a0the\u00a0Federal Open Market Committee’s (FOMC) interest rate decision\u00a0on Wednesday.<\/p>\n The US Federal Reserve\u2019s (Fed) policymakers see no urgency in lowering rates<\/a>.\u00a0Fed Governor Michelle Bowman said she sees \u201cupside risks\u201d to inflation. Meanwhile, Minneapolis Fed President Neel Kashkari floated the possibility of having no rate cuts this year. Atlanta Fed\u2019s Raphael Bostic said he could favor hiking them if inflation\u00a0gets worse. The US Fed\u2019s higher-for-longer rate narrative lifts the Greenback and creates a tailwind for the USD\/CAD<\/a> pair.\u00a0<\/p>\n The FOMC\u00a0is widely expected\u00a0to leave rates unchanged in their current 5.25%\u20135.50% range\u00a0on Wednesday.\u00a0Investors will closely monitor the tone of the FOMC statement and press conference. If the US central bank remains hawkish, this might strengthen the USD and attract more foreign capital inflows. On the other hand, the dovish tone might exert some selling\u00a0 pressure on the Greenback.\u00a0<\/p>\n On the Loonie front, traders expect the Bank of Canada (BoC) to wait until June or July to start cutting its policy rate. The monthly Gross Domestic Product (GDP) data for February might\u00a0offer some hints about\u00a0how the Canadian economy performs. In case the report shows weaker-than-expected data, this might allow the Bank of Canada (BoC) to pivot to interest rate cuts sooner and weigh on the CAD. Meanwhile, the further downside of oil prices might exert some selling pressure on the Loonie, as\u00a0Canada is the largest crude oil exporter to the\u00a0United States\u00a0(US).\u00a0<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" USD\/CAD trades on a\u00a0stronger\u00a0note near 1.3665 on Tuesday.\u00a0 The FOMC\u00a0is widely expected\u00a0to hold rates steady in its current 5.25%\u20135.50% range on Wednesday. The further downside of oil prices weighs on the commodity-linked Loonie.\u00a0 The USD\/CAD pair posts modest gains around 1.3665 on Tuesday during the early Asian trading hours. A modest rebound of the US […]<\/p>\n","protected":false},"author":2,"featured_media":6019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,333,277,252,247,253,249,498,256,254],"class_list":["post-292547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","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\/292547","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=292547"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/292547\/revisions"}],"predecessor-version":[{"id":292549,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/292547\/revisions\/292549"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/6019"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=292547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=292547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=292547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}