- \n
- Canadian Dollar moves broadly lower as inflation tempers in April.<\/strong><\/li>\n
- Canada finds easing price pressures, odds of BoC June rate cut rise.<\/strong><\/li>\n
- Canadian Retail Sales due at\u00a0end of this\u00a0week.<\/strong><\/li>\n<\/ul>\n
The Canadian Dollar<\/a> (CAD) is broadly softer on Tuesday, falling across the board and deflating by around a fifth of a percent against the US Dollar (USD) after Canadian Consumer Price Index (CPI) inflation eased further in April. Markets are increasing their bets of a rate cut from the Bank of Canada (BoC) in June.<\/p>\n
Canadian CPI inflation eased broadly in line with expectations, but the BoC\u2019s Core CPI print dropped to its lowest point since April of 2021. With price pressure easing, market bets of a June rate cut from the BoC have risen to 48%\u00a0from 40% prior to Canada\u2019s CPI print.<\/p>\n
Daily digest market movers: Canadian Dollar slides in\u00a0face of easing inflation<\/h2>\n
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- Canadian headline CPI inflation in April ticked down to 0.5% MoM, matching forecasts and easing from the previous 0.6%.<\/li>\n
- YoY Canadian CPI inflation also met market forecasts, printing at 2.7% versus the previous 2.9%.<\/li>\n
- The BoC\u2019s Core CPI for the year ended April eased to 1.6%, down from the previous 2.0% and hitting a three-year low.<\/li>\n
- Fedspeak continues to dominate overall sentiment as policymakers from the US Federal Reserve\u00a0make a slew of appearances in an effort to inject verbal confidence in markets.<\/li>\n
- Canadian Retail Sales are due at the end of the week. Median market forecasts are hoping for a slight rebound to a flat reading\u00a0from the previous -0.1%.<\/li>\n<\/ul>\n\n\n
Canadian 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 New Zealand Dollar.<\/p>\n
\n\n
\n \n\u00a0<\/th>\n USD<\/th>\n EUR<\/th>\n GBP<\/th>\n JPY<\/th>\n CAD<\/th>\n AUD<\/th>\n NZD<\/th>\n CHF<\/th>\n<\/tr>\n<\/thead>\n \n USD<\/th>\n \u00a0<\/td>\n 0.00%<\/td>\n -0.04%<\/td>\n -0.08%<\/td>\n 0.16%<\/td>\n 0.01%<\/td>\n 0.16%<\/td>\n 0.00%<\/td>\n<\/tr>\n \n EUR<\/th>\n -0.01%<\/td>\n \u00a0<\/td>\n -0.04%<\/td>\n -0.08%<\/td>\n 0.14%<\/td>\n 0.04%<\/td>\n 0.13%<\/td>\n 0.01%<\/td>\n<\/tr>\n \n GBP<\/th>\n 0.04%<\/td>\n 0.04%<\/td>\n \u00a0<\/td>\n -0.06%<\/td>\n 0.20%<\/td>\n 0.05%<\/td>\n 0.19%<\/td>\n 0.04%<\/td>\n<\/tr>\n \n JPY<\/th>\n 0.08%<\/td>\n 0.08%<\/td>\n 0.06%<\/td>\n \u00a0<\/td>\n 0.25%<\/td>\n 0.08%<\/td>\n 0.22%<\/td>\n 0.08%<\/td>\n<\/tr>\n \n CAD<\/th>\n -0.16%<\/td>\n -0.14%<\/td>\n -0.20%<\/td>\n -0.25%<\/td>\n \u00a0<\/td>\n -0.15%<\/td>\n -0.01%<\/td>\n -0.16%<\/td>\n<\/tr>\n \n AUD<\/th>\n -0.01%<\/td>\n -0.04%<\/td>\n -0.05%<\/td>\n -0.08%<\/td>\n 0.15%<\/td>\n \u00a0<\/td>\n 0.14%<\/td>\n 0.00%<\/td>\n<\/tr>\n \n NZD<\/th>\n -0.16%<\/td>\n -0.13%<\/td>\n -0.19%<\/td>\n -0.22%<\/td>\n 0.01%<\/td>\n -0.14%<\/td>\n \u00a0<\/td>\n -0.15%<\/td>\n<\/tr>\n \n CHF<\/th>\n -0.00%<\/td>\n -0.01%<\/td>\n -0.04%<\/td>\n -0.08%<\/td>\n 0.16%<\/td>\n 0.00%<\/td>\n 0.15%<\/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 Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)\/USD (quote).<\/p>\n<\/div>\n<\/div>\n
Technical analysis: Canadian Dollar backslides but remains in familiar technical territory<\/h2>\n
The Canadian Dollar (CAD) is moving in one direction on Tuesday, heading lower against nearly all of its major currency peers. The CAD is down a third of a percent against the broadly-recovering Japanese Yen (JPY)\u00a0and has shed a fifth of a percent against the USD.<\/p>\n
USD\/CAD rose to its highest bids in a week, threatening to solidify a bullish rejection from the 50-day Exponential Moving Average (EMA) from 1.3636. The pair is still down from last month\u2019s peak bids near 1.3850, but a long-term technical floor is priced in at the 200-day EMA from 1.3549.<\/p>\n
USD\/CAD hourly chart<\/h2>\n
USD\/CAD daily chart
![\"\"](\"https:\/\/editorial.fxstreet.com\/miscelaneous\/USD_CAD-638519069554512651.png\")
<\/h2>\n\n\nEconomic Indicator<\/h2>\n
\n\nBoC Consumer Price Index Core (YoY)<\/h3>\n
- Canada finds easing price pressures, odds of BoC June rate cut rise.<\/strong><\/li>\n