USD/CAD Continues to Maintain Dovish Bias as Crude Oil Prices Trades Positive

USD/CAD Hourly (H1) Chart
USD/CAD Hourly (H1) Chart

USD/CAD: The pair continues to maintain dovish bias as Crude oil prices traded with a clear positive tone in the global market today. While USD has already lost some of its strength, prevalent risk-on investor sentiment and positive crude oil price underpin CAD bulls with strong fundamental support. Traders now await US EIA weekly stockpile data, US GDP data, Fed update, and Powell Speech for directional bias and short term profit opportunities.

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