CANADIAN DOLLAR RISES ON MONDAY AS MARKETS RECOVER FOOTING
- The Canadian Dollar rose another quarter percent against the Greenback.
- Canada has a fresh GDP update looming ahead later in the week.
- Markets are recovering their composure after a Fed splurge last week.
The Canadian Dollar (CAD) is broadly higher on Monday, kicking off the new trading week with an across-the-board recovery thanks to easing bidding pressure in other categories rather than any bullish tilt within the CAD itself. The CAD rallied one quarter of one percent against the Greenback, tipping into a fresh multi-month high.
Canada remains absent from the economic calendar in any meaningful capacity until Friday. Canadian Gross Domestic Product (GDP) figures are due at the end of the week, but market flows are likely to get swamped out by a fresh print of US Personal Consumption Expenditure (PCE) inflation figures due at the same time.
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