<\/p>\n
The USD\/CAD pair trades\u00a0on a\u00a0stronger\u00a0note\u00a0for the fifth consecutive day near 1.3730 on Friday during the Asian trading hours. The stronger US Dollar (USD) following the upbeat US PMI data\u00a0provides some support to\u00a0the pair. Traders await the Canadian Retail Sales and US Durable Goods Orders for fresh impetus. Also, the Fed\u2019s Waller\u00a0is set\u00a0to speak later in the day.\u00a0<\/p>\n
The business activity in the US private\u00a0sector grew\u00a0at a faster pace than in April,\u00a0according to the S&P Global. The flash US Composite Purchasing Managers Index (PMI) came better than the market expectation, jumping to 54.4 in May from 51.3 in April. The Manufacturing PMI<\/a> rose to 50.9 in May versus 50.0 in April, above the market consensus of 50.0. The Services PMI jumped to 54.8 in May, better than the estimation and previous reading of 51.3.\u00a0Following the upbeat US PMI reports, the USD Index (DXY) has risen above the 105.00 hurdle\u00a0and\u00a0created a tailwind for the USD\/CAD pair.\u00a0<\/p>\n On the Loonie front, the decline of crude\u00a0oil prices exerts some selling pressure on the commodity-linked Canadian Dollar<\/a> (CAD) as Canada is the largest oil exporter to the United States. Additionally, the expectation\u00a0that\u00a0the Bank of Canada (BoC) will cut the interest rate before the US Fed<\/a> might weigh on the Loonie against the USD. The money markets are pricing in a 53%\u00a0chance of 25 basis points (bps) cut in\u00a0June, while the possibility of a July rate cut\u00a0is fully priced\u00a0in.\u00a0\u00a0<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" USD\/CAD holds positive ground around 1.3730 in Friday\u2019s Asian session.\u00a0 The US S&P Global PMI came in better than expectations in May.\u00a0 The further decline of crude oil prices weighs on the Loonie.\u00a0 The USD\/CAD pair trades\u00a0on a\u00a0stronger\u00a0note\u00a0for the fifth consecutive day near 1.3730 on Friday during the Asian trading hours. The stronger US Dollar […]<\/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-308627","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\/308627","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=308627"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/308627\/revisions"}],"predecessor-version":[{"id":308635,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/308627\/revisions\/308635"}],"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=308627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=308627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=308627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}