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Forex

USD/CAD Pair Snaps Losing Streak Ahead of US Inflation Figures

Guavy AI Editorial Team
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USD CAD
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The USD/CAD pair has snapped its three-day losing streak and is trading around 1.3930, awaiting the release of US inflation figures.

The US Consumer Price Index (CPI) due later today and the Producer Price Index (PPI) on Thursday will provide crucial cues about the US Federal Reserve's future policy path, influencing the US Dollar demand and the USD/CAD pair.

A combination of diverging forces is holding back traders from placing aggressive bullish bets or positioning for any meaningful appreciation in the USD/CAD pair. However, persistent geopolitical uncertainties are lending some support to the safe-haven Greenback and limiting the downside for the USD/CAD pair.

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