The USD/CAD currency pair is currently trading in a tight range below the 1.3900 level, showing little intraday directional bias as it heads into the European session on Tuesday. Market participants are closely monitoring the exchange rate for cues, as it seems trapped in this narrow band, indicating a lack of strong momentum in either direction.
Traders are anticipating the upcoming US Consumer Price Index (CPI) data, which could provide the necessary impetus for a breakout. With USD maintaining its position against CAD, the market is poised for potential volatility, depending on the outcome of the inflation figures. The economic indicators will play a crucial role in shaping the trading sentiment in the forex market.
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Data Source: FX Killer Analysis Team Updated: 2026-01-13 07:24
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.