USDCAD Exchange Rate

The U.S. dollar climbed against its major counterparts in the New York session on Tuesday, as Minneapolis Federal Reserve Bank President Neel Kashkari remarked that the central bank is expected to maintain a tighter monetary policy for an extended period.

The Canadian dollar declined against its most major counterparts in the New York session on Tuesday.

The U.S. dollar fell against its major counterparts in the New York session on Friday, as weaker-than-expected jobs data for April boosted hopes of a rate cut by the Federal Reserve in September.

After growing for fifteen consecutive months, U.S. service sector activity unexpectedly contracted in the month of April, according to a report released by the Institute for Supply Management on Friday. The ISM said its services PMI dipped to 49.4 in April from 51.4 in March, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 52.0.

USDCAD pauses aggressive bull run near five-month high. Faces resistance around 1.3800, but remains supported above 1.3690.

USDCAD pauses aggressive bull run near five-month high. Faces resistance around 1.3800, but remains supported above 1.3690.

USD/CAD trades higher again, tests strong resistance level; It is the bulls' first attempt to break above the current trend channel; Momentum indicators are mixed with a possible bearish divergence developing

The Dollar Index surged on the back of robust inflation data, surprising investors and challenging expectations of an imminent rate cut. US Consumer Price Index (CPI) figures outpaced forecasts for the fourth consecutive month, reaching 3.5% over the 12 months to March. This unexpected inflationary pressure prompted a reevaluation of market sentiments regarding Federal Reserve policy moves.