Canadian Dollar Lower On Fed Fears
14 Junho 2022 - 07:22AM
RTTF2
The Canadian dollar declined against its most major rivals in
the European session on Tuesday, as European stocks fell amid
growing expectations for the likelihood of a 75 basis point rate
hike at the Federal Reserve's policy meeting on Wednesday.
The Fed kicks off its policy meeting later today and will
announce its decision on Wednesday.
Traders see a 91 percent chance of a 75 basis point move
following Friday's U.S. consumer price index report.
Investors fear that sharper Fed rate hikes to curb high
inflation could trigger a recession.
The 2-year and 10-year treasury yield curve briefly inverted on
Monday, indicating an upcoming economic recession in the wake of
steep rate hikes to slow inflation.
The loonie weakened to a fresh 4-week low of 1.2941 against the
greenback, following a high of 1.2866 seen at 2 am ET. The loonie
may face support around the 1.32 mark.
The loonie touched a 5-day low of 1.3529 against the euro and an
8-day low of 103.69 against the yen, off its early highs of 1.3409
and 104.70, respectively. The loonie is seen finding support around
1.38 against the euro and 98.5 against the yen.
The loonie, meanwhile, jumped to 0.8899 against the aussie, a
level unseen since April 2020. The currency is likely to find
resistance around the 0.86 level.
Euro vs CAD (FX:EURCAD)
Gráfico Histórico de Câmbio
De Fev 2024 até Mar 2024
Euro vs CAD (FX:EURCAD)
Gráfico Histórico de Câmbio
De Mar 2023 até Mar 2024