The Canadian Dollar (CAD) is broadly softer on Monday, slipping back against most of its major currency peers and holding flat against the US Dollar (USD) in tepid trading.
Canadian Dollar eases against broader market. Canada absent from economic calendar on Monday. Canadian GDP slated for Tuesday ahead of key US labor figures. The Canadian Dollar is broadly softer on Monday, slipping back against most of its major currency peers and holding flat against the US Dollar in tepid trading. The economic calendar is thin to kick off the trading week as the US Federal Reserve and another US Nonfarm Payrolls on Friday loom ahead later in the week.
3600 and 1.3550. Despite a near-term pullback, the USD/CAD remains on the bullish side of long-term technicals. The pair still holds north of the 200-day Exponential Moving Average at 1.3528, and the US Dollar is still up around 3% against the Canadian Dollar in 2024.
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