The Canadian Dollar (CAD) edged higher on Wednesday after Canadian Gross Domestic Product (GDP) figures beat expectations to post growth for the first time since May.
The Canadian Dollar (CAD) eased on Monday, backsliding after Crude Oil markets snipped away the week’s opening highs as the trading week kicks off with a light economic calendar on offer.
The USD/CAD is getting pushed lower as broader markets see a healthy risk bid that is forcing down the US Dollar (USD) and a bump in Crude Oil bids is propping up the Canadian Dollar (CAD) while the Bank of Canada (BoC) sees lower odds of inflation risks making a reappearance.