{"id":173437,"date":"2024-03-21T02:28:07","date_gmt":"2024-03-20T23:28:08","guid":{"rendered":"https:\/\/kupitiblog.store\/576r\/canadian-dollar-weakens-as-hot-u-s-cpi-raises-prospect-of-delayed-fed-rate-cuts\/"},"modified":"2024-03-21T02:28:07","modified_gmt":"2024-03-20T23:28:08","slug":"canadian-dollar-weakens-as-hot-u-s-cpi-raises-prospect-of-delayed-fed-rate-cuts","status":"publish","type":"post","link":"https:\/\/kupitiblog.store\/576r\/canadian-dollar-weakens-as-hot-u-s-cpi-raises-prospect-of-delayed-fed-rate-cuts\/","title":{"rendered":"Canadian dollar weakens as hot U.S. CPI raises prospect of delayed Fed rate cuts"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/kupitiblog.store\/576r\/wp-content\/uploads\/2024\/03\/b86652109e8c6d8477569eb64bf1b64a.jpg\"  \/> <span class=\"text\"> <\/span> <i class=\"imgGrad\"><\/i>    &nbsp;                <\/p>\n<p dir=\"ltr\">Investing.com &ndash; The <span class=\"aqPopupWrapper js-hover-me-wrapper\">Canadian dollar<\/span> weakened against its U.S. counterpart on Tuesday, as hotter than expected U.S. inflation data had markets considering the prospect of a rate cut from the U.S. Federal Reserve coming <span class=\"aqPopupWrapper js-hover-me-wrapper\">later than June.<\/span><\/p>\n<p dir=\"ltr\">The <span class=\"aqPopupWrapper js-hover-me-wrapper\">annualized reading<\/span> rose by 3.2% last month, quicker than estimates for a 3.1% gain. Month-over-month, the overall consumer price index rose by 0.4% in February, in line with expectations <\/p>\n<p dir=\"ltr\">&ldquo;The U.S. dollar is broadly higher on a hotter inflation report and that&rsquo;s the whole story in the currency market today,&rdquo; said Adam Button, chief currency analyst at ForexLive.<\/p>\n<p dir=\"ltr\">Given that the Bank of Canada is unlikely to want to diverge too much for the Fed, continued pressure from the BoC on the cooling Canadian economy, &ldquo;economic risks begin to build for 2025 around global growth and Canadian growth,&rdquo; Button noted.<\/p>\n<p dir=\"ltr\">This is a view also iterated by analysts at Monex Canada, who note that, &ldquo;Whilst the BoC&rsquo;s high for longer stance should offer some short term protection weighing against a CAD selling off, its negative growth impact sets up a dynamic where the loonie should consistently underperform.&rdquo;<\/p>\n<p dir=\"ltr\">On a technical level for the pair, however, the <span class=\"aqPopupWrapper js-hover-me-wrapper\">USD\/CAD<\/span> pair is expected to remain range bound in the near term. <\/p>\n<p dir=\"ltr\">Analysts at FXStreet note, &ldquo;The pair is bound between supply and demand zones between 1.3450 and 1.3590.&rdquo;<\/p>\n<p dir=\"ltr\">&ldquo;A bullish turn in the USD\/CAD will bounce bids off of the 200-day Simple Moving Average (SMA) at 1.3478, and the way is open for buyers to explore into the 1.3600 handle as a pattern of higher highs bakes into the chart paper.&rdquo;<\/p>\n<p dir=\"ltr\">&ldquo;On the low side, failure to capture territory north of the 200-day SMA will see the pair dump back into early February low bids near 1.3360.&rdquo;<\/p>\n<p><a target=\"_blank\" rel=\"nofollow noopener\" href=\"http:\/\/www.investing.com\/news\/forex-news\/canadian-dollar-weakens-as-hot-us-cpi-raises-prospect-of-delayed-fed-rate-cuts-3335148\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Investing.com &ndash; The Canadian dollar weakened against its U.S. counterpart on Tuesday, as hotter than expected U.S. inflation data had markets considering the prospect of a rate cut from the U.S. Federal Reserve coming later than June. The annualized reading rose by 3.2% last month, quicker than estimates for a 3.1% gain. Month-over-month, the &hellip;<\/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":"<!-- This site is optimized with the Yoast SEO plugin v16.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canadian dollar weakens as hot U.S. CPI raises prospect of delayed Fed rate cuts - 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 weakens as hot U.S. CPI raises prospect of delayed Fed rate cuts - 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=\"&nbsp; Investing.com &ndash; The Canadian dollar weakened against its U.S. counterpart on Tuesday, as hotter than expected U.S. inflation data had markets considering the prospect of a rate cut from the U.S. Federal Reserve coming later than June. The annualized reading rose by 3.2% last month, quicker than estimates for a 3.1% gain. Month-over-month, the &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kupitiblog.store\/576r\/canadian-dollar-weakens-as-hot-u-s-cpi-raises-prospect-of-delayed-fed-rate-cuts\/\" \/>\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=\"2024-03-20T23:28:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kupitiblog.store\/576r\/wp-content\/uploads\/2024\/03\/b86652109e8c6d8477569eb64bf1b64a.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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