The USD/CAD pair struggles to capitalize on the previous day’s modest gains and consolidates just above the 1.3800 mark during the Asian session on Thursday. Traders seem hesitant and opt to wait for the release of US inflation figures before placing fresh directional bets.
The US Producer Price Index (PPI) report will be published later this Thursday, while the US Consumer Price Index (CPI) is due on Friday. The crucial data will be looked at for more cues about the Federal Reserve’s (Fed) policy path, which, in turn, will play a key role in driving the US Dollar (USD) demand and provide some meaningful impetus to the USD/CAD pair.
In the…
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