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March 07, 2023Tentatively higher from an earlier low of 1.3551, USD/CAD is up to 1.3639 today, adding 29 pips, or 0.22%, to yesterday's closing price of 1.3609.
United States Fed Chair Powell testimony is next today at 15:00 UTC.
At the same time, Canada Ivey PMI (Feb) released yesterday at 15:00 UTC with a figure of 51.6, while the previous figure was 60.1. United States Factory Orders released yesterday at 15:00 UTC is better than expected at -1.6% but down from preceding data of 1.7% according to new data.
Other currencies are also rising as EUR/AUD is up 0.81% to 1.6. USD/CHF goes up 0.27% to trade around 0.9335.
Meanwhile, AUD/USD falls 1.03% to trade around 0.6666.
Furthermore, the market is looking at Canada Interest Rate is expected tomorrow at 15:00 UTC. Canada Trade Balance (Jan) scheduled to come out tomorrow at 13:30 UTC. Canada BoC Rate Statement is expected tomorrow at 15:00 UTC.
Trading mostly sideways for a month. After setting a supportive marker at 1.1321 around 3 months ago, US Dollar-Canadian Dollar is now trading 20.21% higher.
