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EBC Daily Snapshot Mar 1, 2024

EBC Forex Snapshot 1 Mar 2024 The US dollar was steady on Friday after data showed US inflation remained sticky but easing gradually. The Canadian dollar strengthened as investors cheered the country’s latest GDP report. The Canadian economy expanded at an annualized rate of 1.0% in the fourth quarter, higher than median forecast for a 0.8% growth. Still it showed that the US continued to outperform its northern neighbour. The BOC is expected to cut interest rates in June, the first among major central banks to do so, according to a Reuters poll. The risk is that home prices are set to rise over the coming years due to constrained housing supply. EBC Financial Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Financial Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

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Publication date:

2024-03-01 11:54:49 (GMT)

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