Canadian Dollar Steadies as US Inflation Meets Expectations
USD/CAD was near flat around 1.3915 on Wednesday, with oil prices helping limit downside for the Canadian dollar after US inflation data matched forecasts.
USDCAD
USD/CAD was trading around 1.3915 on Wednesday, virtually unchanged on the day and recording only a modest decline.
The Canadian dollar steadied as the latest US inflation reading came in line with expectations, removing a potential catalyst for a stronger move in the pair.
Oil prices also helped limit downside for the Canadian dollar, reflecting the currency’s sensitivity to energy markets.
With US inflation meeting forecasts and oil providing support, USD/CAD remained near the 1.3915 level with little clear directional impulse.
Source: FXStreet Forex News