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Canadian Dollar holds ground against Greenback as markets grapple with inflation figures

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The Canadian Dollar (CAD) is mixed on Tuesday after broader markets focused on the latest round of inflation figures from the US as investors continue to look for signs of rate cuts from the Federal Reserve (Fed).

Canadian Dollar holds onto slim gains against softer USD. Canada remains data-light this week, US inflation data takes center stage. US PPI inflation rises on Tuesday, US CPI inflation due Wednesday. The Canadian Dollar is mixed on Tuesday after broader markets focused on the latest round of inflation figures from the US as investors continue to look for signs of rate cuts from the Federal Reserve .

3660, but the pair is treading water in the near term. Bids continue to cycle near the 200-hour Exponential Moving Average at 1.3691. Technical support is baked into daily candles at the 50-day EMA near 1.3640, and USD/CAD is still trading north of the 200-day EMA at 1.3546 despite trading on the low side of the last swing high near 1.3850. The pair is up over 3% for 2024.

 

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