Forex
USD Strength Pushes CAD to Near Five-Month Low
The US Dollar (USD) has risen to near 1.4190 against the Canadian Dollar (CAD), driven by increasing confidence in a Federal Reserve (Fed) interest rate hike this year.
Economists expect two more hikes, with a 60% probability of a quarter-to-a-percent increase in both policy meetings remaining this year, according to the CME FedWatch tool.
The Canadian economy is expected to remain flat after expanding 0.3% in June, while US employers are forecasted to post 7.23 million fresh jobs, slightly lower than July's 7.271 million.