The post Canadian Dollar mixed on Tuesday as CAD follows the market appeared on BitcoinEthereumNews.com.

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 (CAD) 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. Economic data from Canada remains thin through the trading week until Friday’s Canadian labor data dump.  CAD traders can expect the Canadian Dollar to continue drifting along with broader market flows in the meantime as investors continue to keep focus hinged on hopes for rate cuts from the Federal Reserve (Fed) in September. Daily digest market movers: CAD cruises along market lines Risk appetite recovered its balance on Tuesday after several days of panicked risk-off flows. A flash of investor hope for an “emergency rate cut” from the Fed fizzled after markets took a second look at recent data prints. Tuesday’s economic calendar is strictly low-tier, leaving the Canadian Dollar to drift along with the broader market. Bank of Canada (BoC) Summary of Deliberations is slated for release on Wednesday, but is not expected to deliver anything new. July’s Canadian Unemployment Rate expected to tick higher to 6.5% from 6.4% on Friday. Canadian Dollar PRICE Today The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the strongest against the Japanese Yen.   USD EUR GBP JPY CAD AUD NZD CHF USD   0.25% 0.65% 0.73% -0.39% -0.58% -0.22% 0.16% EUR -0.25%   0.43% 0.49% -0.65% -0.84% -0.54% -0.08% GBP -0.65% -0.43%   0.06% -1.05% -1.26% -0.95% -0.55% JPY -0.73% -0.49% -0.06%   -1.12% -1.28% -1.00% -0.42%…

---

Filed under: News - @ August 7, 2024 1:10 am