<\/p>\n
The USD\/CAD pair trades on a\u00a0stronger\u00a0note around 1.3620 on Friday during the early Asian trading hours. The uptick of the pair is bolstered by the renewed US Dollar (USD) demand as the US Federal Reserve (Fed) officials emphasized their cautious stance to hold rates higher for longer.\u00a0<\/p>\n
On Thursday, the US weekly Initial Jobless Claims for the week ending May 11 came in at 222,000 from the previous week of 232,000, above the market consensus of 220,000, according to the US Bureau of Labor Statistics (BLS). Housing Starts climbed 5.7% MoM to 1.36 million in April, while Building Permits declined by 3% MoM in April to 1.44 million. However, these mixed reports had little to no impact on the Greenback as traders kept an eye on the Fed\u00a0official’s\u00a0remarks about the interest rate cuts.\u00a0<\/p>\n
Atlanta Fed President Raphael Bostic<\/a> stated on Thursday that he saw signs of cooling inflation in the recent report, but he prefers to watch the May and June data to\u00a0make sure\u00a0the inflation\u00a0doesn\u2019t\u00a0turn back the other way. Meanwhile, Cleveland Fed President Loretta Mester\u00a0said she\u00a0wants to see more data to gain confidence that inflation is on course to meet the\u00a0Fed\u2019s\u00a02% target.\u00a0<\/p>\n Richmond Fed\u00a0President Tom Barkin noted the central bank needs to keep borrowing costs high for longer to ensure inflation is on track to its target, citing higher prices in the services sector. Financial markets are currently pricing in nearly 70% odds of a Fed rate cut in September, an\u00a0increase from 65% earlier in the week, according to the\u00a0CME FedWatch Tool.<\/p>\n On the Loonie front,\u00a0Canada\u2019s\u00a0Manufacturing Sales fell 2.1% MoM in March from a 0.9% rise in February, weaker than the market expectation of a decline of 1.4%, Statistics Canada showed Wednesday. Elsewhere, the extended rebound in oil<\/a> prices might lift the commodity-linked Canadian Dollar<\/a> (CAD) and cap the\u00a0upside of the pair\u00a0as\u00a0Canada is the largest oil exporter to the United States<\/a>.<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" USD\/CAD holds positive ground near 1.3620 in\u00a0Friday\u2019s\u00a0early Asian session.\u00a0 Several Fed officials emphasized their cautious stance to keep the rate higher for longer, lifting the USD.\u00a0 The recovery in oil prices is likely to cap the commodity-linked Canadian Dollar.\u00a0 The USD\/CAD pair trades on a\u00a0stronger\u00a0note around 1.3620 on Friday during the early Asian trading hours. […]<\/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-303746","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\/303746","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=303746"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/303746\/revisions"}],"predecessor-version":[{"id":303747,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/303746\/revisions\/303747"}],"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=303746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=303746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=303746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}