USD/CAD fades recovery moves around 1.2050 amid sluggish markets

USD/CAD eases from intraday top, rejects corrective pullback around multi-month low. WTI consolidates recent gains on mixed signals, market sentiment fails to extend Monday’s optimism. Canadian traders’ return, US data and inflation chatters are the key. USD/CAD holds lower ground near 1.2050, up 0.05% intraday, while easing from the day’s top during early Tuesday. The Loonie pair ignored off in Canada by declining the most the previous day amid the broad US dollar weakness and WTI strength the previous day. However, mixed catalysts and a lack of fresh directives trouble the pair traders of late. Also, the … (full story)

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