USDCAD's Stability Amidst Macroeconomics and Inflation Concerns
Monday, 16 September 2024, 16:05
USDCAD Remains Steady
The USD/CAD pair trades on a flat note near 1.3585 during the early Asian session on Tuesday. Investors are keeping a close eye on macroeconomic factors, particularly inflation data from Canada and US Retail Sales figures.
Economic Indicators
- The upcoming Canadian CPI report could influence the CAD's valuation.
- US Retail Sales metrics will provide insight into consumer spending trends.
Market Sentiment
With the Federal Reserve's interest rate decision also looming, traders are cautious about the US Dollar's trajectory, as any decline could affect the majors trend significantly.
For more details on economic trends and data, please visit the source.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.