USD/CAD Approaches 1.3800 Amid Broad-Based US Dollar Weakness

USD/CAD approaches 1.3800 amid broad-based US Dollar weakness

The post USD/CAD approaches 1.3800 amid broad-based US Dollar weakness appeared on BitcoinEthereumNews.com. The US Dollar is trading lower for the second consecutive day against its Canadian counterpart on Tuesday. The pair has dropped about 0.6% over the last two days, extending its reversal from 1.3928 highs to session lows at 1.3820 so far. The US Dollar is showing the worst performance among major currencies this week as US President Donald …

USD/CAD declines amid softer Greenback and mixed Canadian CPI data

The Canadian Dollar (CAD) trades on the front foot against the US Dollar (USD) on Tuesday, supported by a broadly weaker Greenback, while markets show a muted reaction to the latest Canadian inflation report. At the time of writing, USD/CAD trades around 1.3878, down 0.27% on the day.

A mixed Canadian CPI release offers few short-term loonie implications

December CPI readings left the loonie treading water, with a headline beat offset by a small miss on measures of underlying inflation. But the main takeaway, in our view, is that price dynamics continue to stabilise in Canada, with little in the data to really challenge such a narrative. This should also help to validate the BoC’s present on-hold stance, which in turn favours minimal short-run change for the loonie. That is certainly the immedia…