TORONTO, May 30 - The Canadian dollar rebounded from a near one-week low against its U.S. counterpart on Thursday as an indication of cooler U.S. inflation left the door open to Federal Reserve interest rate cuts this year.
"The Canadian dollar has essentially reversed its risk-off losses from Wednesday today," said Simon Harvey, Head of FX analysis for Monex Europe and Monex Canada. Canadian payroll employment rose by 51,400 in March following an increase of 14,600 in February, Statistics Canada said. Investors were awaiting Canadian gross domestic product data on Friday, expected to show the economy expanding at an annualized rate of 2.2% in the first quarter. Still, that would be slower than the Bank of Canada's most recent forecast of 2.8%.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Metals, Money, and Markets Weekly: May 3 Sweet Neo ConThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Jobs Report Cools, But Fed Remains Resolute on Inflation FightThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Dollar drops as employers add fewer jobs than expected in AprilThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Another week, another 9-figure mining deal and gold churns at $2,300 levelThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Good price gains for gold, silver amid better risk appetiteThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Surprising job numbers could prompt federal reserve to cut earlyThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »