USD-CAD Stays Rangebound Ahead of US Job Data
The USD-CAD pair finds itself in a tight trading range near 1.3650 during the Asian workout on Wednesday. The Canadian Dollar (the Loonie) remains consolidated as investors look ahead to the upcoming US Nonfarm Payrolls (NFP) report for June. This key employment data will provide fresh insights into the US Federal Reserve’s monetary policy outlook. Traders are on edge, awaiting the results which are expected to influence the future trajectory of both currencies. The USD-CAD’s tightly bound trading pattern indicates a cautious market as participants look for clues before committing their positions. Investors should prepare for potential volatility in response to forthcoming job numbers.