The post USD/CAD is pushing against multi.month highs at 1.3880   appeared on BitcoinEthereumNews.com. USD/CAD has rallied to test three-week highs at 1.3880 amid generalised US Dollar strength A sourer market sentiment and caution ahead of Fed Powell’s speech on Friday are underpinning support for the USD. The Loonie struggles amid higher hopes of BoC cuts and depressed Oil prices. The US Dollar extends gains against its Canadian Counterpart on Wednesday, with price action pushing against the 1.3880 level, where the pair was capped on August 1. Intra-day charts show some hesitation at current levels, but technical indicators are pointing higher, suggesting the possibility of further appreciation. The US Dollar is trading higher across the board on Wednesday in risk-averse markets following a sell-off on Wall Street on Tuesday, which sent US treasury yields higher while the Kremlin cooled hopes of an imminent peace deal in Ukraine. Markets hold their breath with Fed Powell in focus Beyond that, investors have shifted their focus to Fed Chairman Powell’s speech at Jackson Hole on Friday. A context of a weakening labour market and hotter inflation –especially producer prices– poses a serious challenge for the bank. In this context, the risk is that a hawkish Powell prioritises inflation above employment and crushes investors’ hopes of a September rate cut. In Canada, CPI figures released on Tuesday showed a moderating inflationary pressure in July, paving the way for the Bank of Canada to resume its monetary easing cycle. Canada’s headline CPI slowed down to a 1.7% yearly rate, from 1.9% in the previous month, and the key BoC CPI eased to 2.6% from 2.7%. The soft inflation and the depressed Oil prices, which remain near two-month lows right above $62.00, are weighing heavily on the Loonie. Source: https://www.fxstreet.com/news/usd-cad-is-pushing-against-multimonth-highs-at-13880-202508200837The post USD/CAD is pushing against multi.month highs at 1.3880   appeared on BitcoinEthereumNews.com. USD/CAD has rallied to test three-week highs at 1.3880 amid generalised US Dollar strength A sourer market sentiment and caution ahead of Fed Powell’s speech on Friday are underpinning support for the USD. The Loonie struggles amid higher hopes of BoC cuts and depressed Oil prices. The US Dollar extends gains against its Canadian Counterpart on Wednesday, with price action pushing against the 1.3880 level, where the pair was capped on August 1. Intra-day charts show some hesitation at current levels, but technical indicators are pointing higher, suggesting the possibility of further appreciation. The US Dollar is trading higher across the board on Wednesday in risk-averse markets following a sell-off on Wall Street on Tuesday, which sent US treasury yields higher while the Kremlin cooled hopes of an imminent peace deal in Ukraine. Markets hold their breath with Fed Powell in focus Beyond that, investors have shifted their focus to Fed Chairman Powell’s speech at Jackson Hole on Friday. A context of a weakening labour market and hotter inflation –especially producer prices– poses a serious challenge for the bank. In this context, the risk is that a hawkish Powell prioritises inflation above employment and crushes investors’ hopes of a September rate cut. In Canada, CPI figures released on Tuesday showed a moderating inflationary pressure in July, paving the way for the Bank of Canada to resume its monetary easing cycle. Canada’s headline CPI slowed down to a 1.7% yearly rate, from 1.9% in the previous month, and the key BoC CPI eased to 2.6% from 2.7%. The soft inflation and the depressed Oil prices, which remain near two-month lows right above $62.00, are weighing heavily on the Loonie. Source: https://www.fxstreet.com/news/usd-cad-is-pushing-against-multimonth-highs-at-13880-202508200837