The post Canadian Dollar muddles through a quiet Monday appeared on BitcoinEthereumNews.com.

The Canadian Dollar (CAD) struggled to find direction on Monday. Canada’s labor market printed well above expectations last week. The debate facing Loonie traders is whether the BoC will continue to cut rates. The Canadian Dollar (CAD) continues to tread water near multi-year lows against the US Dollar, with Loonie traders waylaid by a rate-cutting Bank of Canada (BoC) threatening to tip the CAD’s rate differential against the Greenback even further into the low end. Loonie traders are getting a breather after last week’s labor figures on both sides of the 49th parallel, but the BoC’s trajectory on rates is still pointed down at a faster and further pace than the US Federal Reserve (Fed). It’s a low-tier showing on the Canadian side of the economic calendar this week; Canada printed an upswell in net job additions in December, but now the overall focus of the data docket, and investor attention spans will shift squarely onto US inflation figures throughout the trading week. Daily digest market movers: Canadian Dollar churns as CAD traders weigh BoC outlook The Canadian Dollar flattened on Monday as flows dry up. The BoC slashed interest rates five times in 2024, dragging its main reference rate from 5.0% to 3.25%, and more cuts are on the cards in 2025, albeit at a slower pace. Meanwhile, the Fed is broadly expected to hold steady on rates for the time being. A swath of US inflation data is due this week, keeping investor focus squarely on Greenback flows. US inflation pressures are simmering in the background, keeping the Fed at bay. Canadian Dollar price forecast As the Canadian Dollar holds on the weak side, USD/CAD is bumping into multi-year highs and churning at the 1.4400 handle. Loonie traders remain unable to push the CAD back into a technical…

---

Filed under: News - @ January 13, 2025 11:19 pm