USD/CAD Price Movements: Anticipating BoC and Fed Commentary on GDP
Friday, 27 September 2024, 04:04
Key Developments Impacting USD/CAD
As USD/CAD trades at a critical support level of 1.3400, all eyes are on upcoming decisions from the Bank of Canada (BoC) and the Federal Reserve (Fed). Recent GDP insights will play a pivotal role in determining market direction.
Support and Resistance Levels
The major pair has formed a fresh swing low, reinforcing a prevailing bearish trend. Investors should monitor key support at 1.3400 and resistance around 1.3500.
Market Sentiment and Economic Indicators
- Fed Policy Meeting: Anticipations surrounding the PCE inflation data announcement.
- BoC’s GDP Insights: Will shape the Canadian economic outlook.
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.