The Canadian Dollar (CAD) is catching some relief after Friday’s risk-off bids sent the Loonie sharply lower against the US Dollar (USD), and recovery
Canadian Dollar edging higher as risk appetite takes a chance once more. Canada CPI inflation data due Tuesday for eager CAD traders. Crude Oil easing back for Monday, limiting CAD support. is the name of the game ahead of Tuesday’s Canadian Consumer Price Index inflation reading due on Tuesday. Canadian data isn’t the only action on the economic calendar tomorrow, with US Retail Sales figures due during the American trading session.
Other factors include market sentiment – whether investors are taking on more risky assets or seeking safe-havens – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another.
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