USD/CAD Stays Sideways Below 1.3500 Amid BOC and Fed Inflation Data
Friday, 27 September 2024, 06:34
Market Overview
The USD/CAD continues to trade sideways, faltering below the psychological resistance level of 1.3500. This persistent range-bound activity is primarily influenced by recent US inflation figures, particularly the Personal Consumption Expenditure (PCE) data released on Friday.
Impact of Inflation Data
- US inflation data raises questions about the Federal Reserve's future rate decisions.
- The Canadian GDP report injects further complexity into market movements.
Technical Analysis
- Key resistance remains at 1.3500.
- Support levels appear to be consolidating around recent lows.
For more details on how these economic indicators are reshaping the USD/CAD landscape, visit the source.
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.