The Canadian Dollar (CAD) is mixed on Wednesday, giving a mediocre performance and settling lower against the US Dollar as Fedspeak continues to weigh on investor focus.
Canadian Dollar gave a mixed performance, easing against the Greenback. Canada reported a potential contraction in wholesale trade in May. Fedspeak to continue dominating headlines until high impact data late in the week. The Canadian Dollar is mixed on Wednesday, giving a mediocre performance and settling lower against the US Dollar as Fedspeak continues to weigh on investor focus. Markets await a slew of key economic figures due in the back half of the trading week.
Intraday price action is hung up on the 200-hour Exponential Moving Average at 1.3692, and daily candlesticks have snapped a near-term losing streak. The 50-day EMA at 1.3675 provides technical support, and the pair continues to grind out a medium-term consolidation pattern north of the 200-day EMA at 1.3582.
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