CAD Gains Against USD on Soft US Data, Eyes Macklem Testimony
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The Canadian Dollar (CAD) advanced against the US Dollar (USD) on Tuesday, fueled by disappointing US ISM Services PMI and Factory Orders data, which reinforce expectations of Fed rate cuts. While CAD performance was mixed against other major currencies, it remained near opening levels versus the USD and NZD. Wednesday’s Bank of Canada (BoC) meeting […]