The USD/CAD pair edges lower to near 1.3530 during the early Asian session on Tuesday.
USD/CAD weakens around 1.3530 in Tuesday’s early Asian session. Several Fed officials open the door to further large interest-rate cuts by the end of this year. Investors will closely watch the speeches from Fed’s Bowman and BoC’s Tiff Macklem on Tuesday. The weakness of the Greenback drags the pair lower.
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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