USD/CAD

The USD/CAD pair holds steady around the 1.4235 area during the Asian session on Thursday, consolidating its recent strong gains registered over the past four weeks or so.

USD/CAD declines 0.08% on Wednesday and trades around 1.4180 at the time of writing, after touching a daily low of 1.4155 in the wake of the US inflation data. The pair recovers part of its losses as investors reassess the timing of a potential further tightening by the Federal Reserve (Fed).

The USD/CAD pair trades with mild losses near 1.4190 during the early European trading hours on Wednesday. A rebound in crude oil prices provides some support to the commodity-linked Canadian Dollar (CAD) against the US Dollar (USD).

USD/CAD continues its winning streak for the eighth consecutive day, trading around 1.4200 during Asian hours on Wednesday. The currency pair remains positioned near two-month highs as the commodity-linked Canadian Dollar (CAD) faces headwinds from falling crude oil prices.

Tuesday's two Canadian catalysts, a flat July for the economy and a later start to Bank of Canada (BoC) bond buying, didn't move USD/CAD. The pair went above 1.4200 for the first time since early July and fell back twice.

TD Securities Macro Research Insight notes that markets began to sell off again following the flat July Canadian GDP print, despite its underwhelming nature. The move is concentrated in the front to mid-curve, with Bank of Canada (BoC) pricing unchanged and US yields near key technical levels.