USD/CAD holds steady above mid-1.3500s, eyes 200-day SMA amid modest USD strength

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USD/CAD holds steady above mid-1.3500s, eyes 200-day SMA amid modest USD strength
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The USD/CAD pair attracts some buyers during the Asian session on Tuesday, albeit lacks follow-through and remains confined in the previous day's trading range.

USD/CAD regains some positive traction amid some follow-through USD buying interest. Subdued Crude Oil prices undermine the Loonie and further lend support to the major. Traders now look to BoC Governor Macklem's speech ahead of the US CPI on Wednesday. The USD/CAD pair attracts some buyers during the Asian session on Tuesday, albeit lacks follow-through and remains confined in the previous day's trading range. Spot prices currently hover around the 1.3565 region, up less than 0.

This, in turn, is seen as another factor lending some support to the USD/CAD pair, though the lack of follow-through buying warrants some caution for bulls ahead of BoC Governor Tiff Macklem's speech later during the early North American session. Investors might also prefer to move to the sidelines ahead of the US inflation figures, which will play a key role in influencing the Greenback.

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