The USD\/CAD pair is advancing, bolstered by high US T-bond yields and the dollar\u2019s performance. Canada\u2019s CPI rose below forecasts but is still above the 7% threshold.
US housing data was mixed, though higher mortgage rates would likely continue to deteriorate the housing market.
The USD\/CAD also rises to fresh two-year highs, above 1.3300, cancelling a previous triple-top chart pattern, courtesy of a buoyant US dollar, alongside falling crude oil prices that impact the Canadian counterpart and constituting a tailwind for the USD\/CAD.
The USD\/CAD is sharply climbing after hitting a daily low at around 1.3226, also spurred by the advancement of Treasury yields, led by the 10-year benchmark note sitting at 3.563%, on expectations that the Fed would raise rates by at least 75 bps. At the time of writing, the USD\/CAD is trading at 1.3365, above its opening price by 0.83%.
Earlier, during the US session, Statistics Canada reported that inflation in the country remains higher but eased a tone, registering figures below estimations. The Consumer Price index (CPI) in August rose 7% YoY, less than estimates of 7.3% and below 7.6% of July\u2019s figure.<\/p>\n","protected":false},"excerpt":{"rendered":"
The USD\/CAD pair is advancing, bolstered by high US T-bond yields and the dollar\u2019s performance. Canada\u2019s CPI rose below forecasts but is still above the 7% threshold.US housing data was mixed, though higher mortgage rates would likely continue to deteriorate the housing market.The USD\/CAD also rises to fresh two-year highs, above 1.3300, cancelling a previous …<\/p>\n","protected":false},"author":13,"featured_media":70532,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[8642,6987,6936,7015],"class_list":["post-72511","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-housing-data","tag-inflation","tag-oil-prices","tag-usd-cad"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=72511"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72511\/revisions"}],"predecessor-version":[{"id":72515,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72511\/revisions\/72515"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/70532"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=72511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=72511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=72511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}