Canadian Dollar flows mostly stuck in place on Monday, limiting price momentum.
Canada has a strictly low-tier showing on the economic calendar this week.
Markets to keep an eye out for Fed Chair Powell’s Monetary Policy Report.
The Canadian Dollar (CAD) largely churned in familiar territory on Monday, trading softly against the US Dollar (USD) as markets recovered from last Friday’s US jobs data glut. Monday’s sun rises on calmer markets after US labor figures crimped recent gains for the CAD, and USD/CAD is marking out a thin range just below 1.3650.
Canada is almost entirely absent from the economic calendar this week, leaving the CAD adrift against broader market flows. Key US inflation and activity data are due throughout the week, and market participants will be trying to nail down firmer timing on the Federal Reserve’s (Fed) pace of rate cuts moving forward.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.