{"id":28573,"date":"2024-06-24T10:38:16","date_gmt":"2024-06-24T10:38:16","guid":{"rendered":"https:\/\/www.xtrememarkets.com\/?p=28573"},"modified":"2024-06-24T10:38:16","modified_gmt":"2024-06-24T10:38:16","slug":"usd-cad-nears-1-3700-as-fed-postpones-rate-cut","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/","title":{"rendered":"USD\/CAD Nears 1.3700 as Fed Postpones Rate Cut"},"content":{"rendered":"

USD\/CAD Nears 1.3700 as Fed Postpones Rate Cut<\/strong><\/h1>\n

The USD\/CAD pair arrested a six-day downtrend, trading<\/strong> <\/a>near the 1.3700 mark in Monday’s Asian trading session, buoyed by robust U.S. economic data from the previous Friday. The uplift in the U.S. Dollar (USD) was primarily due to an unexpectedly strong U.S. Purchasing Managers Index (PMI) report.<\/span><\/p>\n

June’s U.S. Composite PMI climbed slightly to 54.6, up from May\u2019s 54.5, marking the highest level seen since April 2022. The Manufacturing PMI also exceeded expectations, rising to 51.7 from the previous 51.3 and surpassing the forecast of 51.0. Additionally, the Services PMI increased to 55.1, up from 54.8 in May, and beat the consensus prediction of 53.7.<\/span><\/p>\n

The U.S. Dollar Index (DXY), which tracks the USD against a basket of six major currencies, edged higher. This increase follows comments from Federal Reserve officials who indicated a delay in the expected timing of the year\u2019s first interest rate cut. Specifically, Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, noted in a Reuters report that reducing inflation to 2% could take one to two years.<\/span><\/p>\n

Market expectations have adjusted accordingly, with the CME FedWatch Tool now showing a 65.9% likelihood of a Fed rate cut in September, a decrease from 70.2% a week earlier.<\/span><\/p>\n

On the Canadian side, the Canadian Dollar (CAD), which often correlates with commodity prices, found some support from rising crude oil prices. Oil markets have reacted to escalating geopolitical tensions, including Israeli military actions in Gaza and continued Ukrainian drone strikes on Russian oil refineries, both of which have stirred supply concerns.<\/span><\/p>\n

These factors combined to halt the recent slide in the USD\/CAD exchange rate, setting the stage for potential fluctuations based on upcoming economic data releases and geopolitical developments.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

USD\/CAD Nears 1.3700 as Fed Postpones Rate Cut The USD\/CAD pair arrested a six-day downtrend, trading near the 1.3700 mark in Monday’s Asian trading session, buoyed by robust U.S. economic data from the previous Friday. The uplift in the U.S. Dollar (USD) was primarily due to an unexpectedly strong U.S. Purchasing Managers Index (PMI) report.<\/p>\n... continue reading<\/a>.","protected":false},"author":1,"featured_media":28574,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[265,251,168,19,24,2623,22,433,300,2313],"yoast_head":"\r\nUSD\/CAD Nears 1.3700 as Fed Postpones Rate Cut<\/title>\r\n<meta name=\"description\" content=\"The USD\/CAD pair arrested a six-day downtrend, trading near the 1.3700 mark in Monday's Asian trading session, buoyed by robust U.S. economic data\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"USD\/CAD Nears 1.3700 as Fed Postpones Rate Cut\" \/>\r\n<meta property=\"og:description\" content=\"The USD\/CAD pair arrested a six-day downtrend, trading near the 1.3700 mark in Monday's Asian trading session, buoyed by robust U.S. economic data\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Xtreme Markets\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/xtreamforex.official\/\" \/>\r\n<meta property=\"article:published_time\" content=\"2024-06-24T10:38:16+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.xtrememarkets.com\/US\/wp-content\/uploads\/2024\/06\/USD-CAD-Nears-1.png\" \/>\r\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\r\n\t<meta property=\"og:image:height\" content=\"628\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@xtreamforex\" \/>\r\n<meta name=\"twitter:site\" content=\"@xtreamforex\" \/>\r\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"2 minutes\">\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":[\"Organization\",\"Place\"],\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/#organization\",\"name\":\"Xtreamforex\",\"url\":\"https:\/\/www.xtrememarkets.com\/US\/\",\"sameAs\":[\"https:\/\/www.facebook.com\/xtreamforex.official\/\",\"https:\/\/www.instagram.com\/xtreamforex.official\/\",\"https:\/\/in.linkedin.com\/company\/xtream-forex\",\"https:\/\/www.youtube.com\/channel\/UCbbTuJV9XhurjZciRLdvFBg\",\"https:\/\/www.pinterest.com\/xtreamforex_trading\/\",\"https:\/\/twitter.com\/xtreamforex\"],\"logo\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/#local-main-organization-logo\"},\"image\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/#local-main-organization-logo\"},\"openingHoursSpecification\":[{\"@type\":\"OpeningHoursSpecification\",\"dayOfWeek\":[\"Monday\",\"Tuesday\",\"Wednesday\",\"Thursday\",\"Friday\",\"Saturday\",\"Sunday\"],\"opens\":\"09:00\",\"closes\":\"17:00\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/#website\",\"url\":\"https:\/\/www.xtrememarkets.com\/US\/\",\"name\":\"Xtreme Markets\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/www.xtrememarkets.com\/US\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.xtrememarkets.com\/US\/wp-content\/uploads\/2024\/06\/USD-CAD-Nears-1.png\",\"contentUrl\":\"https:\/\/www.xtrememarkets.com\/US\/wp-content\/uploads\/2024\/06\/USD-CAD-Nears-1.png\",\"width\":1200,\"height\":628,\"caption\":\"USD\/CAD Nears 1.3700 as Fed Postpones Rate Cut\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/#webpage\",\"url\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/\",\"name\":\"USD\/CAD Nears 1.3700 as Fed Postpones Rate Cut\",\"isPartOf\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/#primaryimage\"},\"datePublished\":\"2024-06-24T10:38:16+00:00\",\"dateModified\":\"2024-06-24T10:38:16+00:00\",\"description\":\"The USD\/CAD pair arrested a six-day downtrend, trading near the 1.3700 mark in Monday's Asian trading session, buoyed by robust U.S. economic data\",\"breadcrumb\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"item\":{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/\",\"url\":\"https:\/\/www.xtrememarkets.com\/US\/\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"position\":2,\"item\":{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/\",\"url\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/\",\"name\":\"USD\/CAD Nears 1.3700 as Fed Postpones Rate Cut\"}}]},{\"@type\":[\"Article\",\"NewsArticle\"],\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/#webpage\"},\"author\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/#\/schema\/person\/7174bacf55d9f2c6a7277328b874a5b0\"},\"headline\":\"USD\/CAD Nears 1.3700 as Fed Postpones Rate Cut\",\"datePublished\":\"2024-06-24T10:38:16+00:00\",\"dateModified\":\"2024-06-24T10:38:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/#webpage\"},\"publisher\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/#primaryimage\"},\"keywords\":\"business,Canadian dollar,daily news,forex,Forex NEWS,Oil markets,trading,U.S. dollar,USD\/CAD,xtrememarkets\",\"articleSection\":\"Forex News\",\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/#organization\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/#\/schema\/person\/7174bacf55d9f2c6a7277328b874a5b0\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/2e3f4cb7720cd513c664cc42f8ca1461?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/2e3f4cb7720cd513c664cc42f8ca1461?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\/\/localhost\/xtreamforex\"]},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.xtrememarkets.com\/US\/usd-cad-nears-1-3700-as-fed-postpones-rate-cut\/#local-main-organization-logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.xtrememarkets.com\/US\/wp-content\/uploads\/2024\/02\/image_2024_02_23T12_39_46_331Z.png\",\"contentUrl\":\"https:\/\/www.xtrememarkets.com\/US\/wp-content\/uploads\/2024\/02\/image_2024_02_23T12_39_46_331Z.png\",\"width\":800,\"height\":500,\"caption\":\"Xtreamforex\"}]}<\/script>\r\n<!-- \/ Yoast SEO Premium plugin. -->","_links":{"self":[{"href":"https:\/\/www.xtrememarkets.com\/US\/wp-json\/wp\/v2\/posts\/28573"}],"collection":[{"href":"https:\/\/www.xtrememarkets.com\/US\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.xtrememarkets.com\/US\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.xtrememarkets.com\/US\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.xtrememarkets.com\/US\/wp-json\/wp\/v2\/comments?post=28573"}],"version-history":[{"count":1,"href":"https:\/\/www.xtrememarkets.com\/US\/wp-json\/wp\/v2\/posts\/28573\/revisions"}],"predecessor-version":[{"id":28575,"href":"https:\/\/www.xtrememarkets.com\/US\/wp-json\/wp\/v2\/posts\/28573\/revisions\/28575"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.xtrememarkets.com\/US\/wp-json\/wp\/v2\/media\/28574"}],"wp:attachment":[{"href":"https:\/\/www.xtrememarkets.com\/US\/wp-json\/wp\/v2\/media?parent=28573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.xtrememarkets.com\/US\/wp-json\/wp\/v2\/categories?post=28573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.xtrememarkets.com\/US\/wp-json\/wp\/v2\/tags?post=28573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}