USD/CAD Investors remain on the sidelines...........
Modest pickup in the USD demand failed to provide any respite. Bulls even shrugged off the ongoing slide in Crude Oil prices.
The focus remains on Wednesday’s FOMC/BoC policy updates.
The USD/CAD pair struggled to register any meaningful recovery and remained depressed near three-month lows, around mid-1.3000s.
The pair extended its sideways consolidative action through the early European session on Tuesday and failed to gain any respite from the ongoing pullback in Crude Oil prices, which tend to undermine demand for the commodity-linked currency – Loonie.
The focus remains on Wednesday’s FOMC/BoC policy updates.
The USD/CAD pair struggled to register any meaningful recovery and remained depressed near three-month lows, around mid-1.3000s.
The pair extended its sideways consolidative action through the early European session on Tuesday and failed to gain any respite from the ongoing pullback in Crude Oil prices, which tend to undermine demand for the commodity-linked currency – Loonie.