USD/CAD Holds Firm Above 100-Day SMA Amid Hawkish Fed Comments

The USD/CAD pair is trading with mild losses near 1.4190 during early European hours on Wednesday, despite crude oil prices rebounding after US President Donald Trump denied reports of Iran sanctions relief.

This support for the Canadian Dollar comes as traders await ADP employment and PCE Price Index reports later in the day to gauge the US interest rate path.

Federal Reserve officials' hawkish comments could, however, underpin the Greenback, with markets pricing in a 47.1% chance of a Fed rate hike in October and 92.5% probability of an increase in December.