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USD/CAD Rally Continues Near 1.4100 Amid Strong US Data

Guavy AI Editorial Team
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CAD
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The USD/CAD pair has been gaining ground and is now trading near 1.4100, maintaining its bullish bias above the 100-day SMA.

This comes after stronger US Manufacturing Purchasing Managers Index (PMI) data released on Wednesday reignited inflation fears and reinforced US rate-hike bets.

The Composite PMI climbed to 58.4 in September from 56.0 in August, while the Manufacturing PMI rose to 57.0 in September, versus 53.9 prior, above the market consensus of 53.5.

Fed's Barr delivered a hawkish message, with an FXS Speechtracker score of 8/10, stronger relative to the historical average of 7/10.

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