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USD/CAD clings to daily gains around 1 2470 as investors ignore Canada CPI data

3/17/2021 1:15:31 PM GMT | By Eren Sengezer USD/CAD continues to trade in positive territory in early American session. Annual CPI in Canada came in lower than expected for February. US Dollar Index stays below 92.00 ahead of FOMC. After trading in a tight range near 1.2450 during the first half of the day, the USD/CAD pair edged modestly higher in the early American session and was last seen gaining 0.22% on the day at 1.2470. Soft Canadian inflation data fails to trigger a reaction The data published by Statistics Canada revealed on Wednesday that the Consumer Price Index ticked up to 1.1% on a yearly basis in February but fell short of analysts estimate of 1.3%. Additionally, the Bank of Canada s (BoC) Core Consumer Price Index declined to 1.2% from 1.6% in January, compared to the market expectation of 1.4%.

EUR/USD Forecast: Surge above 1 20? Not so fast, Lagarde may lower the euro

Forex Today: Bond auction triggers relief rally, stimulus passes, focus shifts to ECB

Mar 11, 2021 08:36 GMTFXStreet News Here is what you need to know on Thursday, March 11: Markets are benefiting from a calm US bond auction and the passage of the stimulus. The last offering of debt and jobless claims are eyed stateside while the ECB’s decision is critical for the euro. Gold and Bitcoin are holding onto high ground. Yields: Returns on US debt remain the primary driver of the market mood. Wednesday’s ten-year bond auction saw enough demand to push yields lower and the dollar down with it. The upbeat market mood has been carried into Thursday’s trade. Another offering is due on Thursday, this time of 30-year Treasuries, linked to mortgages. 

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