USD/CAD syncs with sluggish Oil price, US Dollar above 1.3500 as Canada GDP, US inflation clues loom

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• USD/CAD picks up bids to pare intraday losses around five-week low.
• Oil traders struggle to cheer risk-on mood, upbeat China PMI as US Dollar pauses downside.
• Recently falling hawkish Fed bets, mixed US data allow Loonie bears to remain hopeful.
• Canada GDP for January, US Core PCE Price Index eyed for fresh impulse.

USD/CAD licks its wounds around 1.3520 as it pares the weekly losses around the lowest levels in more than a month, after refreshing the multi-day low, during early Friday. In doing so, the Loonie pair takes clues from the inactive Oil price and the US Dollar amid the market’s cautious mood ahead of the key inflation data from the US, as well as Canada’s Monthly Gross Domestic Product (GDP) data for January.