- USD/CAD gains traction near 1.3195, up 0.04% on Tuesday.
- The US Chicago PMI for July increased to 42.8 from 41.5 in June, above market expectations of 43.
- Market players anticipated that the Bank of Canada (BoC) might end its tightening cycle.
- Investors await the US ISM PMI data ahead of Friday’s Canadian employment data, Nonfarm Payrolls.
The USD/CAD pair stalls the previous day’s pullback and gains traction below the 1.3200 barrier during the early Asian session on Tuesday. Meanwhile, the US Dollar Index (DXY), a measure of the value of the Greenback against a basket of six major currencies, gains momentum near 101.95, gaining 0.08% for the day. Market participants await the US ISM Manufacturing Purchasing Managers Index (PMI) data later in the North American session ahead of the Canadian employment data and the US Nonfarm Payrolls on Friday.
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