USD/CAD: The pair is trading flat with intra-day price oscillation ranging to both ends of the 1.37 handle as price activity dances to intra-day trading activity from scalpers and hedgers. But lack of solid update that could help strengthen either currency has resulted in a clear lack of directional bias resulting in a neutral activity.
Weak Crude oil price weighs down CAD while lack of enough safe-haven demand and pressure from Fed/US government aids pressure USD. Traders now await Powell Speech and President Trump’s response for short term directional cues and macro data updates from the U.S and Canada for profit opportunities.
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