USDCAD Softens Below 1.3500 Amid Macro Trends and US PCE Data Awaited
Thursday, 26 September 2024, 16:00
USDCAD Weakness Explored
USDCAD has seen a notable decline, settling at approximately 1.3470 during early trading on Friday. The upcoming US PCE data is pivotal, as it carries the potential to impact market sentiment significantly.
Macroeconomic Influencers
- The weaker US Dollar is influencing the currency pair.
- Lower crude oil prices may also play a role in shaping the USDCAD trend.
- Macro data releases are critical for guiding trader expectations.
Looking Ahead
With all eyes set on the US PCE statistics, traders are bracing for possible volatility in USDCAD. Should the data reflect significant changes, we may witness adjustments in investment strategies across the majors.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.