The USD/CAD pair recovers some lost ground near 1.3680 during the early European session on Monday.
USD/CAD gains ground around 1.3680 inFriday’searly European European session. Fed’sLogansaidit’snot clearif policy is tight enough to bring inflation down, addingit’stoo soon to cut rates. The Canadian economy added 90,000 jobs in April, above the consensus of 20,000 gains. Meanwhile, the USD Index holds positive ground around 105.30 ahead of the USkeyeconomic data. The final reading of the US Consumer Price Index will be due on Wednesday, whichis expectedto show an increase of 3.
The cautious approach of the Fed officials provides some support to the Greenback and acts as a tailwind for the USD/CAD pair. On the other hand, the Canadian economy added 90,000 jobs in April.This figure registered thestrongestincrease in 15 months and beat the estimation of 20,000 gains, according to Statistics Canada.Furthermore,the Unemployment Rate held at 6.1% in April.Theresilience of the labor marketaffords the Bank of Canada more time to wait to ensure thatinflation will be sustained.
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