{"id":173432,"date":"2024-03-21T01:24:48","date_gmt":"2024-03-20T22:24:49","guid":{"rendered":"https:\/\/kupitiblog.store\/576r\/canadian-dollar-adds-to-gains-as-markets-bet-bank-of-canada-cuts-rates-before-fed\/"},"modified":"2024-03-21T01:24:48","modified_gmt":"2024-03-20T22:24:49","slug":"canadian-dollar-adds-to-gains-as-markets-bet-bank-of-canada-cuts-rates-before-fed","status":"publish","type":"post","link":"https:\/\/kupitiblog.store\/576r\/canadian-dollar-adds-to-gains-as-markets-bet-bank-of-canada-cuts-rates-before-fed\/","title":{"rendered":"Canadian dollar adds to gains as markets bet Bank of Canada cuts rates before Fed"},"content":{"rendered":"

<\/span> <\/i>   <\/p>\n

Investing.com — The Canadian Dollar added to gains vs. its U.S. counterpart today, with the loonie<\/span> supported by broad-risk on sentiment, and as markets continued to digest yesterday\u2019s more-hawkish than expected rate-hold from the Bank of Canada.<\/span> <\/p>\n

Meanwhile, the greenback continued to retreat following a reiteration of coming rate cuts this year from Fed Chair Jerome Powell<\/span> as he continued his testimony to the Senate today.\u00a0<\/p>\n

Analysts at Commerzbank (ETR:CBKG<\/span>) note that the BoC\u2019s more hawkish tone relative to Powell\u2019s comments indicate that the BoC is likely to move in lockstep with — or later than the Fed, implying further upside for the loonie in coming months.\u00a0\u00a0<\/p>\n

Commerzbank analysts note, \u201cSome market participants were expecting a more dovish tone in the statement. The fact that the BoC did not deliver reinforces our view that the BoC is unlikely to cut rates until after the Fed.\u201d<\/p>\n

\u201cWe therefore continue to see upside potential for the CAD in the coming months.\u201d<\/p>\n

Following the BoC\u2019s rate decision yesterday, markets now expect rate cuts in July rather than in June, as had been priced in before the Canadian central bank\u2019s interest rate announcement.\u00a0<\/p>\n

Jerome Powell\u2019s testimony meanwhile has served to strengthen bets of a rate cut from the Fed in June<\/span>.<\/p>\n

Further impetus to the pair will come from tomorrow\u2019s Canadian employment data<\/span>, and U.S. Nonfarm Payrolls<\/span> for February, which markets will be watching to gain further possible insights on the rate path forward for the Canadian and U.S. central banks.\u00a0<\/p>\n

On a technical level for the pair, analysts at FXStreet note that \u201cThursday\u2019s decline drags the USD\/CAD<\/span> pair back into the 200-day Simple Moving Average (SMA) at 1.3477, and the immediate technical floor is priced in at the last meaningful swing low toward 1.3350.\u201d<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  Investing.com — The Canadian Dollar added to gains vs. its U.S. counterpart today, with the loonie supported by broad-risk on sentiment, and as markets continued to digest yesterday\u2019s more-hawkish than expected rate-hold from the Bank of Canada. Meanwhile, the greenback continued to retreat following a reiteration of coming rate cuts this year from Fed …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3351],"tags":[],"yoast_head":"\nCanadian dollar adds to gains as markets bet Bank of Canada cuts rates before Fed - BiznesSMI - \u043a\u043e\u0442\u0438\u0440\u043e\u0432\u043a\u0438 \u0432\u0430\u043b\u044e\u0442, \u0430\u043a\u0446\u0438\u0438, \u0444\u043e\u0440\u0435\u043a\u0441, \u0438\u043d\u0434\u0435\u043a\u0441\u044b, \u0430 \u0442\u0430\u043a\u0436\u0435 \u0442\u0435\u0445\u043d\u0438\u0447\u0435\u0441\u043a\u0438\u0439 \u0430\u043d\u0430\u043b\u0438\u0437, \u0433\u0440\u0430\u0444\u0438\u043a\u0438, \u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u044b\u0435 \u043d\u043e\u0432\u043e\u0441\u0442\u0438 \u0438 \u0430\u043d\u0430\u043b\u0438\u0442\u0438\u043a\u0430.<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian dollar adds to gains as markets bet Bank of Canada cuts rates before Fed - BiznesSMI - \u043a\u043e\u0442\u0438\u0440\u043e\u0432\u043a\u0438 \u0432\u0430\u043b\u044e\u0442, \u0430\u043a\u0446\u0438\u0438, \u0444\u043e\u0440\u0435\u043a\u0441, \u0438\u043d\u0434\u0435\u043a\u0441\u044b, \u0430 \u0442\u0430\u043a\u0436\u0435 \u0442\u0435\u0445\u043d\u0438\u0447\u0435\u0441\u043a\u0438\u0439 \u0430\u043d\u0430\u043b\u0438\u0437, \u0433\u0440\u0430\u0444\u0438\u043a\u0438, \u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u044b\u0435 \u043d\u043e\u0432\u043e\u0441\u0442\u0438 \u0438 \u0430\u043d\u0430\u043b\u0438\u0442\u0438\u043a\u0430.\" \/>\n<meta property=\"og:description\" content=\"  Investing.com — The Canadian Dollar added to gains vs. its U.S. counterpart today, with the loonie supported by broad-risk on sentiment, and as markets continued to digest yesterday\u2019s more-hawkish than expected rate-hold from the Bank of Canada. Meanwhile, the greenback continued to retreat following a reiteration of coming rate cuts this year from Fed …\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kupitiblog.store\/576r\/canadian-dollar-adds-to-gains-as-markets-bet-bank-of-canada-cuts-rates-before-fed\/\" \/>\n<meta property=\"og:site_name\" content=\"BiznesSMI - \u043a\u043e\u0442\u0438\u0440\u043e\u0432\u043a\u0438 \u0432\u0430\u043b\u044e\u0442, \u0430\u043a\u0446\u0438\u0438, \u0444\u043e\u0440\u0435\u043a\u0441, \u0438\u043d\u0434\u0435\u043a\u0441\u044b, \u0430 \u0442\u0430\u043a\u0436\u0435 \u0442\u0435\u0445\u043d\u0438\u0447\u0435\u0441\u043a\u0438\u0439 \u0430\u043d\u0430\u043b\u0438\u0437, \u0433\u0440\u0430\u0444\u0438\u043a\u0438, \u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u044b\u0435 \u043d\u043e\u0432\u043e\u0441\u0442\u0438 \u0438 \u0430\u043d\u0430\u043b\u0438\u0442\u0438\u043a\u0430.\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-20T22:24:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kupitiblog.store\/576r\/wp-content\/uploads\/2024\/03\/ca90934c5024e2e337688cf9c0d162c7.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u041f\u0440\u0438\u043c\u0435\u0440\u043d\u043e\u0435 \u0432\u0440\u0435\u043c\u044f \u0434\u043b\u044f \u0447\u0442\u0435\u043d\u0438\u044f\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 \u043c\u0438\u043d\u0443\u0442\u044b\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/kupitiblog.store\/576r\/#website\",\"url\":\"https:\/\/kupitiblog.store\/576r\/\",\"name\":\"BiznesSMI - 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