The USD/CAD printed a fresh daily high on Friday at 1.3772, amid a weaker Loonie and a mixed Greenback. After moving away from the bottom, the pair is about to post a small weekly loss.
The bad and the ugly
Data released on Friday showed the Canadian Industrial Product Price Index dropped 0.8%, a surprise considering market expectations of a 1.6% increase. The Raw Material Price Index fell 0.4%, below the estimate 0%. The economic figures did not help the Loonie, that is among the worst performers on Friday.
Next week, the key report from the Canadian economy will be February’s Consumer Price Index (CPI) on Tuesday. It is expected to show an increase of 0.4% MoM, and the annual rate slowing from 5.9% in January to 5.5%.
The US Dollar is mixed on Friday, attempting a recovery as stocks in Wall Street deepen losses. US yields are down by 4% on average, with the 10-year at 3.41%, slightly above March lows.
Markets remain anxious with the banking turmoil and next week is the FOMC meeting. The consensus is still for a 25bps rate hike but the end of the tightening cycle is seen sooner than previously thought. The change in expectations weighed on the Greenback.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.