Canadian Dollar Rises; BoC Governor Says Canadian Economy Is On Track For A Soft Landing
25 6월 2024 - 12:31PM
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The Canadian dollar strengthened against other major currencies
in the Asian session on Tuesday, after the Bank of Canada Governor
Tiff Macklem said the Canadian economy is on track for a soft
landing.
Speaking at the Winnipeg Chamber of Commerce on late Monday, the
Bank of Canada governor Tiff Macklem said the Canadian economy
appears to be on track for a soft landing where inflation falls
back to the bank's target without a major spike in
unemployment.
"We continue to think that we don't need a large rise in the
unemployment rate to get inflation back to the 2% target," Macklem
said.
The crude oil prices gained on optimism about the outlook for
demand and likely supply disruptions due to tensions in the Middle
East. West Texas Intermediate Crude oil futures for August rose
$0.90 or 1.1 percent at $81.63 a barrel.
Asian stock markets traded higher, as traders seemed cautious
and reluctant to make significant moves ahead of some crucial
economic data, including a report on U.S. personal income &
spending due later in the week. They also await comments from U.S.
Fed officials for additional clues on the outlook for interest
rates.
Traders are also looking ahead to the presidential debate
between Joe Biden and Donald Trump as well as upcoming French and
U.K. elections later in the week.
In the Asian trading today, the Canadian dollar rose to a 3-week
high of 1.3641 against the U.S. dollar, from yesterday's closing
value of 1.3654. The USD/CAD may test resistance around the 1.35
region.
Against the euro and the Australian dollar, the loonie advanced
to 1.4647 and 0.9083 from early lows of 1.4660 and 0.9094,
respectively. If the loonie extends its uptrend, it is likely to
find resistance around 1.45 against the euro and 0.88 against the
aussie.
The loonie edged up to 116.94 against the yen, from Monday's
closing value of 116.84. On the upside, the CAD/JPY pair may test
resistance around the 117.00 region.
In economic news, producer prices in Japan were down 0.1 percent
on month in May, the Bank of Japan said on Tuesday. That follows
the 0.7 percent monthly jump in April. On a yearly basis, producer
prices were up 2.5 percent, easing from 2.7 percent in the previous
month.
Looking ahead, Canada May CPI data and manufacturing sales data
for May, U.S. Chicago Fed national activity index for May, U.S.
Redbook report, U.S. house price index for April, U.S. Consumer
Board's consumer confidence for June, U.S. Richmond Fed
manufacturing index for June and U.S. Dallas Fed services index for
June are slated for release in the New York session.
CAD vs Yen (FX:CADJPY)
외환 차트
부터 8월(8) 2024 으로 9월(9) 2024
CAD vs Yen (FX:CADJPY)
외환 차트
부터 9월(9) 2023 으로 9월(9) 2024