The Canadian Dollar (CAD) is largely flat on Wednesday as broader markets await a key appearance from the US Federal Reserve.
Canadian Dollar middles as investors await key Fed appearance. Canada PMI missed the mark, to little effect. US labor preview worrying bellwether for Friday NFP. The Canadian Dollar is largely flat on Wednesday as broader markets await a key appearance from the US Fed eral Reserve. Investors have broadly baked in a rate hold from the US central bank today, but markets are looking for a more solid policy guidance stance from the Fed as inflation continues to plague rate cut hopes.
USD/CAD remains on the bullish side of the chart despite near-term pullbacks from the last swing high into 1.3850, with the pair trading on the high side of the 200-day EMA at 1.3533. The USD is up 4.4% against the CAD from the December swing low into 1.3175.
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