Canadian Dollar steady on Monday, BoC CPI inflation around the corner

Canadian Dollar mostly higher but flat against Greenback again. Canada brings BoC CPI inflation to the table on Tuesday. Fedspeak dominates headlines, CAD volumes thin on holiday Monday. The Canadian Dollar is broadly higher on Monday, though momentum remains limited with Canadian markets shuttered for the Victoria Day holiday. CAD traders will officially kick the trading week off on Tuesday, just in time for the Bank of Canada’s latest Consumer Price Index inflation.

Intraday price action remains hampered by the 200-hour Exponential Moving Average at 1.3646. Middling technical action threatens to bake into USD/CAD with daily candlesticks stuck between the 50-day and 200-day EMAs at 1.3635 and 1.3548, respectively. The 1.3600 handle remains a key technical barrier, acting as a magnet pulling down bullish momentum and a price floor hobbling further shortside progress.

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