The Canadian Dollar gave a lopsided performance on Tuesday. Canada labor figures loom ahead on Friday, but data prints remain limited until then. After a recovery in market sentiment, the wait for Fed rate cuts continues. The Canadian Dollar gave a mixed performance on Tuesday, rising and falling mostly in step with the broader FX market. The CAD gained ground against the floundering Pound Sterling and eased lower against the recovering Japanese Yen.
Price action is falling back into a familiar range, but an uptick in bearish momentum has yet to drag the pair back below near-term technical levels at the 50-day Exponential Moving Average at 1.3730.
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