CAD Steady Near 1.3900 as Traders Await US Tariffs Deadline

The Canadian Dollar (CAD) remains steady near the 1.3900 mark against the US Dollar (USD), despite a modest recovery in the USD/CAD pair from its lowest level since June 3.

Traders are cautious ahead of a high-stakes US tariffs deadline and the release of FOMC Minutes, which may provide more cues about the US Federal Reserve's future policy path amid inflation risks stemming from higher oil prices.

West Texas Intermediate (WTI) crude oil touched a nearly three-week high as the US-Iran standoff over the Strait of Hormuz keeps the geopolitical risk premium in play, supporting the safe-haven USD.