USD CAD trading nearly unmoved
10/19/2016 9:16:25 AM
The CAD is trading nearly unmoved against USD on Wednesday, now sending USD/CAD back above the 1.3100 handle.
The pair is struggling to return to the positive area today after 4 successive sessions with losses following a broad-based selling bias around the dollar.
Tepid consequences from US inflation figures on Tuesday have added to the downbeat sentiment around USD, though expectations of an eventual Fed move by year-end keep on to limit the downside in the dollar for the time being.
As of writing the pair is up 0.02% at 1.3115 with the next hurdle at 1.3172 followed by 1.3315 and ultimately 1.3575. On the other hand, a breakdown of 1.3050 would open the door to 1.3025 and then 1.2996.