The USD/CAD pair holds into gains near 1.3550 in Tuesday’s North American session.
USD/CAD remains firm above 1.3550 with US CPI, Presidential debate taking centre stage. Investors see the US annual headline CPI declining to 2.6%. USD/CAD delivers a mean-reversion move to near 20-day EMA. The Loonie asset remains firm as the US Dollar clings to gains amid uncertainty ahead of the United States presidential debate and the Consumer Price Index data for August, which will be published on Wednesday.
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.
BOC Fed Inflation Supportresistance
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