Posted 2/12/2024, 6:33:53 PM
Canadian Dollar Inches Up Ahead of US Inflation Data, But Rangebound Against US Dollar
- Canadian Dollar sees thin gains in quiet Monday trading ahead of key US inflation data this week
- Crude Oil found support, helping to bolster the Canadian Dollar
- USD/CAD remains stuck below 1.3500 level; intraday action continues to cycle the 200-hour SMA
- Markets still betting on Fed rate cuts this year despite officials warning it's too early
- Technical analysis CAD broadly higher but stuck in familiar chart territory; USD/CAD pinned under 1.3500