Mixed Markets: Canada Dollar Waits on US NFP Numbers Amid Iran Tensions
The Canadian dollar traded mixed on Tuesday, unable to find direction amidst conflicting reports on Iran-US ceasefire talks. The USDCAD pair opened at 1.4036 and has been trading in a range of 1.3996-1.4066 since Friday.
Traders are keeping a close eye on the developments as they await Friday's US non-farm payrolls (NFP) numbers, which could have a significant impact on currency markets. The NFP data will provide insight into the strength of the US economy and may lead to changes in monetary policy.
In other news, the White House continues to issue contradictory statements on the Iran deal, with President Trump claiming that a resolution is near while Iran denies it. This has led to increased volatility in oil markets, with WTI prices trading between 77.17-82.32.