USD/CAD tested a new high for the week but remains tepid.
Canada’s New Housing Price Index declined slightly in January.
Fed’s FOMC meeting Minutes to be the key release for Wednesday.
USD/CAD briefly tested a fresh high for the week, but the pair continues to churn in near-term consolidation levels as markets buckle down for the latest meeting Minutes from the Federal Reserve’s (Fed) Federal Open Market Committee (FOMC). Market momentum remains thin with US Purchasing Managers Index (PMI) figures due on Thursday, and the trading week will wrap up with the Fed’s latest Monetary Policy Report on Friday.
Canada saw its New Housing Price Index decline in January with the annualized figure softening at a slower rate than previous. Canadian Retail Sales are due on Thursday but are likely to be engulfed by the US PMI prints.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.