The Canadian Dollar (CAD) found little reason to move in any particular direction on Monday with little meaningful data on the offering and a flubbed US Federal Reserve (Fed) appearance that gave markets nothing to work with.
Canadian Dollar struggled to develop momentum with little of note on the docket. Canada is largely absent from the economic calendar this week. Fed Chair Powell stuck close to the usual script, giving investors little to work with. The Canadian Dollar found little reason to move in any particular direction on Monday with little meaningful data on the offering and a flubbed US Fed eral Reserve appearance that gave markets nothing to work with.
USD/CAD hourly chart USD/CAD daily chart Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar are the level of interest rates set by the Bank of Canada , the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports.
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