USD/CAD inter-markets: seems to hold near-term range ahead of next week's key releases
|The USD/CAD pair remained confined within a broader trading range above the 1.3000 psychological mark though the course of current trading week.
Despite of the recent selling pressure around the greenback, led by the ongoing slide in the US 10-year Treasury bond yields, the pair remained well supported near 1.30 handle in wake of equivalent retracement in the Canadian bond yields for same maturity.
Moreover, a range-bound price-action in oil markets, with WTI crude oil oscillating around $53.00 mark, has failed to provide any impetus for the commodity-linked currency - Loonie.
In absence of any fresh fundamental trigger, in-term of market moving economic releases, the pair seems more likely to continue with its struggle for a firm direction.
Investors would now look forward to the next week's key event risk - the release of minutes of the latest FOMC meeting on Wednesday, and Canadian macro data - monthly retail sales on Wednesday and CPI print on Friday, in order to determine the pair's next leg of directional move.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.