USD/CAD posts moderate losses above 1.3800, eyes on US UoM data

Share:

• USD/CAD snaps the four-day winning streak on Friday.
• Federal Reserve (Fed) Chair Powell said they are still not sure that rates are high enough to finish the battle with inflation.
• Markets anticipate a 90% chance the BoC to maintain the interest rates steady at its December meeting.
• Traders will focus on Fed’s Logan speech, Michigan Consumer Sentiment Index and UoM 5-year Consumer Inflation Expectation data.

The USD/CAD pair posts moderate losses above the 1.3800 psychological support during the Asian trading hours on Friday. A modest intraday loss in the US dollar and the recovery in oil prices cap the upside of the USD/CAD pair. The pair currently trades around 1.3805, down 0.01% on the day