Prior 40.1That's a modest uptick in UK construction activity, with this being the slowest reduction in seven months. All three sub-sectors recorded weaker rates of contraction than those seen in December, helped by...
cadusd.ca
The latest in Canadian / US dollar exchange forecasting, news and currency conversion
$1 
USD
=
$0.7302
CAD
$1 = $1.3696
Outlook: Bearish ↘
Several factors are influencing the CAD/USD exchange rate. The People’s Bank of China (PBoC) injected liquidity ahead of the Lunar New Year, signaling a focus on funding conditions rather than policy easing, which initially provided some positive sentiment. The PBoC’s USD reference rate adjustments, coupled with the Fed’s cautious approach to rate cuts and warnings of persistent inflation risks, support a continued upward trend for the USD. Furthermore, stronger-than-expected economic data from the UK, reflected in the services PMI, is reinforcing expectations of continued Bank of England (BoE) policy restraint. Finally, Eurozone inflation data remains above target, contributing to cautious market sentiment.
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UK January construction PMI 46.4 vs 42.0 expected
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PBoC uses 14-day reverse repos today ahead of Lunar New Year
China’s central bank leaned on longer-dated liquidity tools to smooth funding conditions ahead of the Lunar New Year holiday.Summary:PBoC injected liquidity via both 7-day and 14-day reverse reposUse of 14-day RRs is...
www.forexlive.com
PBOC sets USD/ CNY reference rate for today at 6.9570 (vs. estimate at 6.9468)
Earlier:China targets unified domestic market to boost consumption and services demandThe PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate.Previous close 6.9450Injects 118.5bn yuan in...
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Sterling firms ahead of BoE as markets push back rate-cut timing - preview of today's meet
Sterling is firmer into Thursday’s BoE decision as stronger UK data nudges markets to delay rate-cut bets, with the vote split and guidance the key tells.Summary:Sterling firmed to a five-month high vs the euro as ma...
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More from Fed's Cook: Urges patience as inflation remains above target
Fed Governor Cook Q&A now, signalled patience is warranted, saying policy is mildly restrictive and inflation progress remains insufficient to justify any near-term move.Earlier from Cook, from prepared remarks:Fed...
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PBOC is expected to set the USD/CNY reference rate at 6.9468 – Reuters estimate
The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exchange markets. Ch...
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Fed’s Cook warns inflation risks remain tilted higher
Fed Governor Cook signalled a clear bias against near-term rate cuts, saying inflation risks remain skewed to the upside despite a stabilised labour market.Summary:Fed Governor Cook says inflation risks remain skewed t...
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Eurozone January preliminary CPI +1.7% vs +1.7% y/y expected
Prior +1.9%; revised to +2.0%Core CPI +2.2% vs +2.3% y/y expectedPrior +2.3%The headline reading meets estimates with core annual inflation easing slightly in January. That being said, just be wary that Eurostat has in...
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UK January final services PMI 54.0 vs 54.3 prelim
Prior 51.4Final Composite PMI 53.7 vs 53.9 prelimPrior 51.4Key findings:Output growth rebounds to a five-month high Solid increase in new work Job losses continue, despite improved business optimism Comment:Tim Moore, ...
www.forexlive.com