Canadian Dollar Forecast: US Inflation Data to Set the Tone for USD/CAD
The rally in oil prices should support the Canadian dollar, but the September U.S. inflation report is likely to be more relevant for USD/CAD’s near-term direction.
The rally in oil prices should support the Canadian dollar, but the September U.S. inflation report is likely to be more relevant for USD/CAD’s near-term direction.
Bitcoin and Ethereum continue to hold above YTD lows as the picture becomes more bleak for risk assets.
October trade was off to a roaring start until the speculative charge hit the skids this past session. We could try to connect the stumble to US data or Fed speculation, but the math doesn’t work out. More likely, seasonal positioning has worked through and now the markets are tuned back into tangible fundamentals. What does that mean?
Hacks and exploits in the crypto arena have been occurring with troubling frequency. Yesterday, another large theft occurred at the world’s largest cryptocurrency exchange; and yet the stalwart coins hardly blinked.
The RBA surprised markets last Tuesday when they raised the cash rate target by 25 basis points to 2.60%, less than the 50 basis points expected, sending the AUD/USD lower.