The post USD/CAD weakens to near 1.3650 ahead of Canadian employment data appeared on BitcoinEthereumNews.com.

USD/CAD edges lower to around 1.3655 in Friday’s early Asian session.  FOMC meeting minutes released on Wednesday showed narrow support for a rate cut as early as this month.  Canada’s June employment data will be in the spotlight later on Friday. The USD/CAD pair declines to around 1.3655 during the early Asian session on Friday. The US Dollar (USD) softens against the Canadian Dollar (CAD) amid the prospects for more interest rate cuts by the US Federal Reserve (Fed) this year. Traders will keep an eye on the Canadian employment data for June, which is due later on Friday.  Most participants at the Fed’s June 17-18 meeting saw some reduction in the Fed funds rate this year as appropriate, citing that any price shock from tariffs was expected to be “temporary or modest,” according to the FOMC Minutes. Fed policymakers raise their expectations for rate cuts, anticipating two reductions this year and three more over the following several years. However, the “dot plot” of individual members’ outlooks reflected division over the extent of cuts.  Fresh US trade tariffs cast doubt on the potential trade agreement between Canada and the US this month. US President Donald Trump on Wednesday announced a new 50% tariff on US copper imports, effective August 1. The Canadian government hopes to reach an agreement with the US by July 21. Any negative developments surrounding US-Canada trade talks could weigh on the CAD and act as a tailwind for the USD, as Canada is a major supplier of copper to the US. Canadian Dollar FAQs The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of…

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Filed under: News - @ July 11, 2025 5:26 am