{"id":301370,"date":"2024-05-14T08:33:26","date_gmt":"2024-05-14T03:03:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=301370"},"modified":"2024-05-14T08:33:26","modified_gmt":"2024-05-14T03:03:26","slug":"usd-cad-holds-above-1-3650-ahead-of-us-ppi-data-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/usd-cad-holds-above-1-3650-ahead-of-us-ppi-data-crypto-news\/","title":{"rendered":"USD\/CAD holds above 1.3650 ahead of US PPI data &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>USD\/CAD holds positive ground near 1.3675 on Tuesday.<\/strong><\/li>\n<li><strong>Fed officials said in recent comments that the high-for-longer interest rate narrative is needed to bring down inflation.<\/strong><\/li>\n<li><strong>The lower crude oil price weighs on the commodity-linked Canadian Dollar (CAD).\u00a0<\/strong><\/li>\n<\/ul>\n<p>The USD\/CAD pair trades on a\u00a0stronger\u00a0note\u00a0around\u00a01.3675\u00a0during\u00a0the Asian session on Tuesday. Amid the light week\u00a0in terms\u00a0of Canadian economic data, investors will keep an eye on the US <a rel=\"nofollow noopener\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\">Producer Price Index<\/a> (PPI) on Tuesday\u00a0and,\u00a0the\u00a0Consumer Price Index (CPI) on Wednesday.\u00a0<\/p>\n<p>Several Federal Reserve (Fed) officials stated in recent weeks that the current\u00a0level of interest rate\u00a0should be held higher for longer to bring down inflation. During the press conference, Fed Chair <a rel=\"nofollow noopener\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\">Jerome Powell<\/a> said\u00a0that an\u00a0interest rate hike was \u201cunlikely,\u201d but he did not\u00a0fully\u00a0rule it out. Powell emphasized the need to take more time to gain \u201cgreater confidence\u201d that inflation is\u00a0moving towards\u00a0the Fed\u2019s 2% target.\u00a0<\/p>\n<p>Dallas Fed President Lorie Logan said that\u00a0there are upside risks to inflation, adding that it is too soon to cut interest rates.\u00a0The high-for-longer US rate narrative\u00a0is likely to\u00a0underpin the Greenback and create a tailwind for <a rel=\"nofollow noopener\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/currencies\/usdcad\">USD\/CAD<\/a> for the time being.\u00a0<\/p>\n<p>On the other hand, the decline in crude oil price continues to drag the commodity-linked Canadian Dollar (CAD) lower, as Canada is the leading\u00a0exporter of oil\u00a0to the United States. Nonetheless, the upbeat Canadian employment market data for April might convince the Bank of Canada (BoC) to wait longer t to ensure that\u00a0inflation will be sustained.\u00a0This, in turn, might cap the downside of the CAD.\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>USD\/CAD holds positive ground near 1.3675 on Tuesday. Fed officials said in recent comments that the high-for-longer interest rate narrative is needed to bring down inflation. The lower crude oil price weighs on the commodity-linked Canadian Dollar (CAD).\u00a0 The USD\/CAD pair trades on a\u00a0stronger\u00a0note\u00a0around\u00a01.3675\u00a0during\u00a0the Asian session on Tuesday. Amid the light week\u00a0in terms\u00a0of Canadian economic [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":11226,"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-301370","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\/301370","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=301370"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/301370\/revisions"}],"predecessor-version":[{"id":301373,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/301370\/revisions\/301373"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/11226"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=301370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=301370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=301370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}