USDCAD Exchange Rate

With a surge in utilities output offset by decreases in mining and manufacturing output, the Federal Reserve released a report on Thursday showing U.S. industrial production came in flat in the month of April. The Fed said industrial production came in unchanged in April after inching up by a downwardly revised 0.1 percent in March.

Philadelphia-area manufacturing activity saw a notable slowdown in the pace of growth in the month of May, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current general activity tumbled to 4.5 in May from 15.5 in April, although a positive reading still indicates growth.

The Labor Department released a report on Thursday showing U.S. import prices jumped by much more than expected in the month of April. The report said import prices shot up by 0.9 percent in April after climbing by an upwardly revised 0.6 percent in March. Economists had expected import prices to rise by 0.3 percent compared to the 0.4 percent increase originally reported for the previous month.

After reporting a notable increase in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing jobless claims pulled back roughly in line with estimates in the week ended May 11th. The Labor Department said initial jobless claims fell to 222,000, a decrease of 10,000 from the previous week's revised level of 232,000.

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.