The Canadian Dollar (CAD) went sideways on Tuesday after CAD traders found little reason to bid too firmly in either direction after a mixed Canadian Consumer Price Index (CPI) inflation print.
Canadian Dollar went sideways after misfire in Canadian CPI inflation. Canada reported a downturn in near-term CPI , but BoC YoY CPI ticked up. US Retail Sales print kicks off a fresh round of rate cut hopes. The Canadian Dollar went sideways on Tuesday after CAD traders found little reason to bid too firmly in either direction after a mixed Canadian Consumer Price Index inflation print.
USD/CAD continued to battle the 1.3700 handle as broad-market bidding bolstered the Greenback. Intraday momentum has evaporated into a choppy standstill just beneath the key handle as bidders struggle to push the pair into further gains after last week’s recovery from a swing low below 1.3600.
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