USD/CAD: The Pair is Trading with Clear Dovish Bias

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

USD/CAD: The pair is trading with clear dovish bias, but overall price action remains range-bound. CAD’s gains were capped owing to conflicting developments surrounding global crude oil demand to supply dynamics. But USD’s weakness still outweighs CAD’s weakness helping Loonie retain an upper hand. Traders now await US CPI & EIA weekly stockpile data for short term trading and directional cues. 

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