USD/CAD Holds Near 1.4220 as Oil Rebounds Caps Further Upside
The Canadian dollar held lower against the US dollar on Tuesday as Brent rose over 1% to $72.74 and West Texas Intermediate, or WTI, gained 1.12% to $69.32, limiting upside despite broader USD strength ahead of Wednesday's Fed minutes release. Canada posted a trade surplus of CA$4.24 billion in May, compared with a surplus of C$3.41 billion in the previous month, Statistics Canada reported on Tuesday. In Tuesday's G10 trading, the CAD showed mixed performance among other currencies. The high-impact event for the loonie will be the seasonally adjusted Ivey Purchasing Managers' Index for June, due later in the day. For the USD, the mild event will be the Consumer Inflation Expectations for June, also due later in the day. The USD/CAD pair was trading at 1.42244, with a 0.13% gain during Tuesday's American trading hours at the time of writing.
The Canadian dollar held lower against the US dollar on Tuesday as Brent rose over 1% to $72.74 and West Texas Intermediate, or WTI, gained 1.12% to $69.32, limiting upside despite broader USD strength ahead of Wednesday's Fed minutes release.
Canada posted a trade surplus of CA$4.24 billion in May, compared with a surplus of C$3.41 billion in the previous month, Statistics Canada reported on Tuesday.
In Tuesday's G10 trading, the CAD showed mixed performance among other currencies.
The high-impact event for the loonie will be the seasonally adjusted Ivey Purchasing Managers' Index for June, due later in the day.
For the USD, the mild event will be the Consumer Inflation Expectations for June, also due later in the day.
The USD/CAD pair was trading at 1.42244, with a 0.13% gain during Tuesday's American trading hours at the time of writing.