USD/CAD aims to lose ground on the fourth consecutive day to continue the losing streak, treading waters near 1.
USD/CAD loses groundon the likelihood of no interest rate hike by the US Fed in December. US Dollar loststrength due to weaker US economic data released in the previous week. BoC is expected to keep interest rates higher for a prolonged period. 3650 during the Asian hours on Monday. The pair facesdownward pressure amid expectations that the US Federal Reserve might halt its monetary policy tightening, prompted by the subdued employment data from the United States .
US Non-Farm Payrolls data might have cheered up the investors, as they've been anticipating a slowdown in economic data to persuade the US Fed that additional rate hikes are unnecessary. The report revealed a figure of 150K, falling short of the expected 180K and marking a significant decline from the 297K recorded in September. Additionally, the US Unemployment Rate rose to 3.9%, going against the market's anticipation of remaining stable at 3.8% in October.
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