The US Dollar has recently surrendered gains made after a court ruling regarding trade tariffs and is now trading moderately lower. As the US Session approaches, traders turn their attention to the Canadian Dollar, which finds support from an uptick in oil prices. The recent ruling emphasizes Congress’s control over trade regulations, affecting USD/CAD price dynamics.

As market participants await the release of US GDP data, they will be closely watching how these developments influence the relationship between the USD and CAD. This backdrop sets the stage for potential trading opportunities as economic news unfolds. Be prepared to act based on how market sentiments may shift, particularly in reaction to important economic indicators.