The USD/CAD pair struggles to gain during the Asian session on Monday. The downtick of the pair is supported by the US Dollar (USD) weakness and the r
USD/CAD trades in negative territory for the second consecutive day on Monday amid the softer USD. The impact of geopolitical tensions in the Middle East boost the commodity-linked Loonie. Investors anticipate a potential rate rise by the Federal Reserve due to the upbeat inflation data last week. US Retail Sales, Canadian inflation data will be closely watched events on Tuesday. ally in oil prices.
That said, crude oil markets recover from the impact of geopolitical tensions in the Middle East. This, in turn, could lift the Canadian Dollar and cap the upside of the USD/CAD pair. On the other hand, markets have priced in a potential rate rise by the Federal Reserve by the end of the year due to the higher inflation expectation and the upbeat inflation data last week. The University of Michigan one-year Inflation expectations surged from 3.2% to 3.
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