The USD/CAD pair trades with mild losses around 1.3955 during the early Asian session on Wednesday.
USD/CAD trades with mild negative bias near 1.3955 in Wednesday’s early Asian session. The geopolitical risks might boost the safe-have currency like the USD. Canada's CPI inflation jumps to 2.0% in October from 1.6% in September. The hotter-than-expected Canadian inflation report for October supports the Canadian Dollar against the Greenback. However, the renewed geopolitical tensions between Russia and Ukraine might cap the pair’s downside.
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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