{"id":95316,"date":"2020-01-29T05:47:35","date_gmt":"2020-01-29T10:47:35","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=95316"},"modified":"2020-01-29T05:47:35","modified_gmt":"2020-01-29T10:47:35","slug":"102213-usd-cad-dollar-rises-against-loonie-before-fomc","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102213-usd-cad-dollar-rises-against-loonie-before-fomc\/","title":{"rendered":"USD\/CAD: Dollar Rises Against Loonie Before FOMC"},"content":{"rendered":"<p>The US dollar is higher against the Canadian dollar on Wednesday morning ahead of a likely decision by the US Federal Reserve to keep interest rates steady at its meeting later today. That follows a rally in the Canadian dollar yesterday thanks in part to a recovery in the price of oil.<\/p>\n<p><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-cad-exchange-rate-today\/\">USD\/CAD<\/a> was higher by 14 pips (+0.11%) to 1.3173 with a daily range of 1.315 to 1.318 as of 9.30am GMT. The currency pair slid yesterday afternoon, making a low near 1.315 before retracing about a third of the losses on Wednesday morning.<\/p>\n<p><a href=\"http:\/\/currencylive.com\/news\/currency\/usd\"><strong>The US dollar<\/strong><\/a><\/p>\n<p>Forex markets are positioning ahead of the US interest rate decision from the Federal Open Market Committee (FOMC) at 19:00 GMT. It is almost certain that there will be no change to policy at this meeting, meaning the benchmark US interest rate will remain at a range of 1.5-1.75%.<\/p>\n<p>There will be no update to the Federal Reserve\u2019s quarterly economic forecasts and analysts are mostly expecting the official statement that accompanies the meeting to be essentially unchanged from the previous meeting in December. That means any movement in currencies will likely happen as a result of Chair Jerome Powell\u2019s press conference. Powell\u2019s opinion on the stubbornly low inflation despite high <a href=\"http:\/\/currencylive.com\/news\/topic\/jobs-data\">employment<\/a>, the US manufacturing recession and the effect of the coronavirus will all be noteworthy.<\/p>\n<p>Data out of the US yesterday seemed to represent the current <a href=\"http:\/\/currencylive.com\/news\/topic\/economics\">economic<\/a> situation in the United States well. Durable goods orders (stripping out defence and aeroplanes) unexpectedly fell but consumer confidence came in at its highest since the dot come bubble in the late nineties.<\/p>\n<p><a href=\"http:\/\/currencylive.com\/news\/currency\/cad\"><strong>Th<\/strong><strong>e Loonie<\/strong><\/a><\/p>\n<p>By comparison, in Canada interest rates are set almost identically to the US at 1.75% by the Bank of Canada. The difference is that recently the bank offered guidance that Canadian interest rates could be lowered in the coming meetings.<\/p>\n<p>The lift in the Canadian dollar and away from year-to-date lows was helped by a rise in oil prices as well as a general recovery in risk sentiment that diminished demand for the US dollar as a haven.<\/p>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>The US dollar is higher against the Canadian dollar on Wednesday morning ahead of a likely decision by the US Federal Reserve to keep interest rates steady at its meeting later today. That follows a rally in the Canadian dollar yesterday thanks in part to a recovery in the price of oil. USD\/CAD was higher [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":82272,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1381],"tags":[1680,1398],"class_list":{"0":"post-95316","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cad","8":"category-usd","9":"tag-cad","10":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/CAD: Dollar Rises Against Loonie Before FOMC - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/102213-usd-cad-dollar-rises-against-loonie-before-fomc\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102213-usd-cad-dollar-rises-against-loonie-before-fomc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102213-usd-cad-dollar-rises-against-loonie-before-fomc\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/CAD: Dollar Rises Against Loonie Before FOMC\",\"datePublished\":\"2020-01-29T10:47:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102213-usd-cad-dollar-rises-against-loonie-before-fomc\\\/\"},\"wordCount\":599,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102213-usd-cad-dollar-rises-against-loonie-before-fomc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/USD-CAD-Loonie-Consolidation-Phase-Following-2-Days-Gains.jpg\",\"keywords\":[\"cad\",\"usd\"],\"articleSection\":[\"CAD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102213-usd-cad-dollar-rises-against-loonie-before-fomc\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102213-usd-cad-dollar-rises-against-loonie-before-fomc\\\/\",\"name\":\"USD\\\/CAD: Dollar Rises Against Loonie Before FOMC - 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