USD/CAD struggles for a firm intraday direction, stuck in a range around 1.3400 mark – by hareshmenghani USDCAD China Fed CPI Currencies
USD/CAD oscillates in a narrow band and is influenced by a combination of diverging forces.A softer risk tone benefits the safe-haven greenback and helps limit any meaningful downside.USD/CAD
A modest uptick in crude oil prices underpins the commodity-linked Loonie and acts as a headwind for the USD/CAD pair. The negative factor, to a larger extent, is offset by some follow-through US Dollar buying, which, in turn, lends some support to the major and helps limit the downside, at least for the time being.
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