USD/CAD Holds Steady Despite Mixed Canadian CPI Data

USD/CAD Holds Steady Within Range Despite Mixed Canadian CPI Data

The USD/CAD currency pair continues to trade within a well-established range, despite the release of mixed Consumer Price Index (CPI) data from Canada. Markets are digesting the latest inflation figures while turning their attention to the upcoming vote on President Donald Trump’s tax reform bill, scheduled for Wednesday in the U.S. House of Representatives.

The U.S. Dollar remains under pressure, and investor focus has shifted to potential fiscal policy changes. Meanwhile, the Loonie pair is holding near key Fibonacci support around the 1.3944 level, with resistance strengthening near the 1.400 mark.

During early U.S. trading hours, USD/CAD is fluctuating in a tight band as technical and fundamental factors guide price action. Traders are closely monitoring developments for signs of a breakout from the current consolidation phase.