USD/CAD extends losses below 1.3700 ahead of the US PMI data

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• USD/CAD trades in negative territory for the third consecutive day, around 1.3674.
• The Chicago Fed National Activity Index rose to +0.02 in September vs -0.22 prior.
• Traders await the US S&P Global PMI ahead of the Bank of Canada (BoC) Rate decision on Wednesday.

The USD/CAD pair extends its downside during the Asian session on Tuesday. The downtick of the pair is driven by the correction of the US Dollar (USD) to a one-month low. However, a rise in US Treasury bond yields and the escalating geopolitical tensions in the Middle East might limit the USD’s downside. The pair currently trades near 1.3674, down 0.12% for the day.