{"id":83410,"date":"2019-12-10T03:00:47","date_gmt":"2019-12-10T08:00:47","guid":{"rendered":"https:\/\/currencylive.com\/?p=83410"},"modified":"2019-12-10T03:10:52","modified_gmt":"2019-12-10T08:10:52","slug":"101724-usd-cad-pair-remains-within-familiar-range-investors-look-to-fomc","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101724-usd-cad-pair-remains-within-familiar-range-investors-look-to-fomc\/","title":{"rendered":"USD\/CAD: Pair Remains Within Familiar Range, Investors Look To FOMC"},"content":{"rendered":"\n\n\n
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The US dollar<\/a> slipped slightly lower versus its Canadian counterpart in the previous session. The US dollar Canadian dollar exchange declined 0.1% on Monday, closing at 1.3238, slightly up from the session low of 1.3221. The pair is edging lower in early trade on Tuesday, though continues to trade within a familiar range.<\/p>\n

The US dollar edged lower at the start of the trading week, although volatility was limited owing to the absence of any relevant macroeconomic data and amid ongoing tensions between the US and China.<\/p>\n

With no economic data due today, trading is expected to remain subdued as investors look ahead to Wednesday\u2019s Federal Reserve monetary policy announcement. After three interest rate cuts across the year, the broad expectation is that the Fed will remain on hold this week as officials consider that they have done enough to stabilise the US economy. Instead investors will look at the dot plot for further clues as to where policy makes see monetary policy going across 2020. Currently the dot plot suggests the next move by the Fed will be a hike in 2021.<\/p>\n

Canadian Dollar Struggles As Oil Fails To Break $59<\/h2>\n

The Canadian dollar managed to advance versus the greenback despite weak housing data and a fall in the price of oil. West Texas Intermediate struggled to push beyond $59 on Monday. The strong NFP data last week and the OPEC cuts helped boost the price of oil at the end of last week. However, weak Chinese export data on Monday raised fears over the health of the world\u2019s second largest economy, and the demand outlook for oil. This dragged oil lower. Usually the commodity sensitive Canadian dollar falls when the price of oil declines.<\/p>\n

Canadian housing data was also weaker than forecast. Housing starts fell by more than expected in November, although managed to remain above 200,000 for the 6th<\/sup> straight month. On a historical basis this is an elevated level.<\/p>\n

There is no Canadian economic data due to be released today. Investors will follow trade headline and oil prices for direction.<\/p>\n\n\n\n
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The US dollar slipped slightly lower versus its Canadian counterpart in the previous session. The US dollar Canadian dollar exchange declined 0.1% on Monday, closing at 1.3238, slightly up from the session low of 1.3221. The pair is edging lower in early trade on Tuesday, though continues to trade within a familiar range. The US […]<\/p>\n","protected":false},"author":163946597,"featured_media":82272,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1381],"tags":[1680,1683,1399,1408,1438,1522,1433,1397,1398],"class_list":{"0":"post-83410","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cad","8":"category-usd","9":"tag-cad","10":"tag-canadian-dollar","11":"tag-china","12":"tag-fed","13":"tag-federal-reserve","14":"tag-oil","15":"tag-rate-cut","16":"tag-us-dollar","17":"tag-usd"},"acf":[],"yoast_head":"\nUSD\/CAD: Pair Remains Within Familiar Range, Investors Look To FOMC - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101724-usd-cad-pair-remains-within-familiar-range-investors-look-to-fomc\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101724-usd-cad-pair-remains-within-familiar-range-investors-look-to-fomc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101724-usd-cad-pair-remains-within-familiar-range-investors-look-to-fomc\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/CAD: Pair Remains Within Familiar Range, Investors Look To FOMC\",\"datePublished\":\"2019-12-10T08:00:47+00:00\",\"dateModified\":\"2019-12-10T08:10:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101724-usd-cad-pair-remains-within-familiar-range-investors-look-to-fomc\\\/\"},\"wordCount\":595,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101724-usd-cad-pair-remains-within-familiar-range-investors-look-to-fomc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/USD-CAD-Loonie-Consolidation-Phase-Following-2-Days-Gains.jpg\",\"keywords\":[\"cad\",\"canadian dollar\",\"china\",\"fed\",\"federal reserve\",\"oil\",\"rate cut\",\"us dollar\",\"usd\"],\"articleSection\":[\"CAD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101724-usd-cad-pair-remains-within-familiar-range-investors-look-to-fomc\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101724-usd-cad-pair-remains-within-familiar-range-investors-look-to-fomc\\\/\",\"name\":\"USD\\\/CAD: Pair Remains Within Familiar Range, Investors Look To FOMC - 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