1.3600 USD/CAD faces pressure due to weak Canadian job data and lower Fed rate cut expectations.
The USD/CAD faces pressure above 1.3600 as the US Dollar fails to capitalize on strong US NFP data. The Canadian Dollar weakens as US Dollar expectations for Fed rate cuts in June decrease. Canadian employment data showed a decrease of 2,200 jobs in March, increasing pressure on the Bank of Canada to cut interest rates. The USD/CAD pair fell to the 1.3600 support level in the European session.
April 08, 2024
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