The Canadian Dollar (CAD) found some room on the high side on Monday, easing higher as the US Dollar softly receded across the board.
Canadian Dollar found room up top, bolstered by floundering Greenback. Canada to deliver update on CPI inflation on Tuesday. Risk appetite remains subdued as markets await signs of rate cuts. The Canadian Dollar found some room on the high side on Monday, easing higher as the US Dollar softly receded across the board. Investors have little meaningful information to chew on to kick off the new trading week, leaving market sentiment adrift.
USD/CAD has closed in the red for all but two of the last ten consecutive trading days and is on pace to extend into another bearish candle as bids fall below the 50-day Exponential Moving Average at 1.3675. Long-term technical support sits at the 200-day EMA, which is rising into the 1.3600 handle.
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