The Canadian Dollar (CAD) found some room on the high side on Friday, pushing up by a scant tenth of a percent against the US Dollar amid choppy intraday price action after key economic data broadly met market expectations.
Canadian Dollar bolstered by rising market sentiment. Canada posted a 0.3% uptick in GDP , propping up CAD. US PCE inflation also ticked lower, further bolstering rate cut hopes. The Canadian Dollar found some room on the high side on Friday, pushing up by a scant tenth of a percent against the US Dollar amid choppy intraday price action after key economic data broadly met market expectations.
3735 early Friday before settling back into familiar near-term lows near 1.3675. CAD strength has briefly halted a recent upswing in the pair on a Greenback bid, sending USD/CAD into a rough near-term corkscrew around the 200-hour Exponential Moving Average near the 1.3700 handle.
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