The Canadian Dollar (CAD) continues to sink against the US Dollar (USD) as broad-market risk-off flows remain the overall theme for investors on Tuesd
Canada PMIs, labor data still ahead later in the week, but US NFP to overshadow. as broad-market risk-off flows remain the overall theme for investors on Tuesday. Oil-dependent CAD is catching only minor support from Crude Oil prices, which are seeing a minor rebound after halting a three-day decline.
Economists from several large banks are starting to caution that the USD/CAD could be poised for a rebound if market flows ease up. The US-Canada rate differential remains the key theme to capping USD/CAD chart flows according to HSBC analysts.
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