Canadian Dollar churns into a choppy decline against Greenback after US ISM PMI miss

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• US data prints miss the mark, ISM PMI and Factory Orders flub forecasts.
• Canada readies for another BoC rate call on Wednesday.
• CAD is softer on the day, only finding gains against USD.

The Canadian Dollar (CAD) climbed against the US Dollar (USD) on Tuesday before falling back once more after the US ISM Services Purchasing Managers Index (PMI) and US Factory Orders both missed forecasts. Market hopes for an accelerated path toward Federal Reserve (Fed) rate cuts are pinning back into the high end as US economic figures tease a steepening economic contraction in the US.