The USD/CAD pair has taken a step lower for Monday, slipping from 1.3640 into the 1.3580 level, with the Greenback (USD) on the back foot as the USD g
Monday has been a light day for major market catalysts on the US Dollar side, but recent bouts of risk-off
that sent investors scurrying into the Greenback on global economy concerns could be seeing some profit-taking. data dropping on mid-week markets. Headline CPI for the month of August is forecast to come in higher at 0.5% compared to the previous read of 0.2%, representing an uptick in inflationary pressures, while the core CPI figure for the same figure is forecast to hold steady at 0.2%.
Despite this, the USD/CAD pairing is holding on the upside for September, still well above the month’s opening prices near 1.3510. The Dollar-Loonie rate saw a firm lift into the 1.3690 region on souredFurther upside will be capped by firm resistance from the 1.3600 major handle, while any extensions to the downside will see a bit of a support vacuum until facing a near-term floor at 1.3500.Note: All information on this page is subject to change.
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