USD/CAD. Analysis and Forecast
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Today, the pair is declining toward the psychological level of 1.3700. Traders have increased their expectations of a September Fed interest rate cut following a weaker-than-forecast July U.S. Nonfarm Payrolls report. Moreover, the current market outlook suggests at least two 25-basis-point rate cuts before the end of the year. These expectations have been the main driver of recent U.S. dollar weakness, continuing to pressure USD/CAD.At the same time, crude oil prices are fluctuating near a two-month low amid concerns that
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