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USD/CAD looked in both directions on Friday as markets see thin action heading into the week’s closing bell.

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, held its forty-eighth General Assembly Meeting, on 21 February 2024.Hesham Abdulla Al Qassim, Chairman of Emirates Islamic, and Vice Chairman and Managing Director of Emirates

The EUR/USD pair trims its intraday gains on Wednesday and faces challenges in extending its winning streak initiated on February 14.

The financial markets are rather calm in Asian session today, while major currency pairs and crosses largely engage in a phase of consolidation. This tranquility comes in the wake of China's surprising decision to significantly lower its mortgage reference interest rate, a move designed to provide a much-needed boost to the struggling property sector and, by extension, the broader economy. Despite the potential implications of such a policy shift, reaction across the markets was relatively muted, with only the offshore Yuan registering slight gains.

Canadian Dollar weakens broadly in early US session, sparked by data indicating a stronger-than-anticipated progress in disinflation. Headline CPI fell below the 3% mark, accompanied by significant easing in core inflation measures. This development potentially opens the door for BoC to consider an interest rate cut sooner than anticipated, with the second quarter now appearing as a viable window for such a policy adjustment.