CANADIAN DOLLAR EXTENDS REBOUND AS MARKETS FOCUS ON US ELECTION
- The Canadian Dollar added another 0.4% to extend the week’s rebound.
- Canada sees a tepid showing on the economic calendar this week.
- Broader markets remain focused on US election results, impending Fed rate cut.
The Canadian Dollar (CAD) gained further ground on Tuesday, climbing over four-tenths of one percent against the Greenback as global markets hunker down and wait for the outcome of the US presidential election this week.
Canada sees a limited spread of mid-tier data releases on the economic calendar this week, leaving the Loonie at the mercy of global market flows into and out of the safe haven US Dollar (USD). With another Federal Reserve (Fed) rate cut looming over the horizon, market volatility is set to whip and froth in tune with the US release schedule this week.
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.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.