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USD/CAD holds above 1.3650 ahead of US PPI data
The USD/CAD pair trades on a stronger note around 1.3675 during the Asian session on Tuesday. Amid the light week in terms of Canadian economic data, investors will keep an eye on the US Producer Price Index (PPI) on Tuesday and, the Consumer Price Index (CPI) on Wednesday. Several Federal Reserve (Fed) officials stated in recent weeks that the current level of interest rate should be held higher for longer to bring down inflation. During the press conference, Fed Chair Jerome Powell said that an interest rate hike was “unlikely,” but he did not fully rule it out. Powell emphasized the need to take more time to ... (full story)