Demand for the Canadian Dollar has Grown Significantly

Yesterday the Canadian dollar showed the strongest growth. Trading sessions ended with the USD/CAD quotes falling by more than 125 points. Bank of Canada Senior Deputy Governor Carolyn Wilkins said that in the near future the issue of possible tightening of monetary policy will be raised.

In the European trading session, the revised data on inflation in the UK will appear. At the moment, most experts believe that in May, the consumer price index (year on year) will remain unchanged at 2.7%.

It should be recalled that the attention is focused on the Fed meeting this week, which will be held on Wednesday, June 14. At the moment, the probability of raising rates to 1.00-1.25% is 99.6%.

Market Indicators

Yesterday’s trading ended with a slight decrease in #SPY (SPDR S&P 500 ETF) by 0.02% to 243.36 USD.

At the moment, the 10-year US government bonds yield is 2.21%.

During yesterday’s trading, the dollar index (#DX) fell by 0.12%.

Today we recommend you to pay attention to the following economic reports:

News feed for: 2023.07.04

The consumer price index in the UK at 11:30 (GMT+3:00);
The ZEW economic sentiment index in Germany at 12:00 (GMT+3:00);
The producer price index in the US at 15:30 (GMT+3:00).

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.