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13 days ago
Today Forex News - USD/CAD Edges Higher in Quiet Trade

Today Forex News - USD/CAD Edges Higher in Quiet Trade


The U.S. dollar edged in the push away along adjoining its Canadian counterpart in bashful trade almost speaking Tuesday, as expectations for several U.S. rate hikes this year continued to retain the greenback, although higher oil prices with boosted demand for the commodity-associated Canadian currency.

USD/CAD was taking place 0.14% at 1.2442 by 09:30 a.m. ET (13:30 GMT).

The greenback remained supported after San Francisco Fed President John Williams said concerning Saturday that the Fed should lift inclusion rates three periods this year unlimited that economy will benefit from tax cuts.

The explanation came a day after Cleveland Fed President Loretta Mester said she expects about four-stroke rate hikes this year, thanks to sealed U.S. economic similar and low unemployment.

Meanwhile, the Canadian dollar continued to benefit from climbing oil prices surrounded by ongoing signs the establish is rebalancing.

The loonie was far-off ahead closely the euro, once than EUR/CAD down 0.17% at 1.4841.


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