# USD/CAD drops to near 1.3460 as US Dollar edges lower ahead of inflation test — Octa

> USD/CAD fell to near 1.3460 in Asian trade as the U.S. dollar eased ahead of U.S. core PCE inflation data and Canadian Q2 GDP. Traders expect the Federal Reserve to start cutting rates in September, with a 34.5% probability of a 50 basis point cut.

- Date: 2024-08-29 · published 2024-08-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/29036-usd-cad-drops-to-near-1-3460-as-us-dollar-edges-lower-ahead-of-inflation-test
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Dollar weakness on expected Fed easing supports dollar-denominated commodity prices, but this is a currency preview with limited direct feed market impact.

## Read by commodity

- DXY: bearish ▼
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-02-28 | [US Dollar Index drops to 3-week lows near 98.40 ahead of US docket — Octa](https://feedsoft.ai/events/54776-us-dollar-index-drops-to-3-week-lows-near-98-40-ahead-of-us-docket-octa.md) | -0.5% | +4.3% |
| DXY | 2023-01-10 | [Dollar treads water near 7-month lows ahead of U.S. inflation data](https://feedsoft.ai/events/37697-dollar-treads-water-near-7-month-lows-ahead-of-u-s-inflation-data.md) | -0.8% | +0.2% |
| DXY | 2023-07-12 | [US dollar stumbles, drops to more than one-year low as inflation eases in June](https://feedsoft.ai/events/9977-us-dollar-stumbles-drops-to-more-than-one-year-low-as-inflation-eases-in-june.md) | -1.4% | +0.8% |
| DXY | 2025-08-28 | [USD/JPY drifts lower ahead of Tokyo CPI and US PCE inflation report](https://feedsoft.ai/events/23563-usd-jpy-drifts-lower-ahead-of-tokyo-cpi-and-us-pce-inflation-report.md) | +0.0% | -0.2% |
| DXY | 2021-03-11 | [Dollar drops to one-week low as inflation fears fade; ECB in focus \| Financial Post](https://feedsoft.ai/events/48345-dollar-drops-to-one-week-low-as-inflation-fears-fade-ecb-in-focus-financial-post.md) | -0.4% | -0.3% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1114627/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.