CAD/USD is trading lower as the dollar rises following mixed inflation data this week.
Portfolio Pulse from Benzinga Newsdesk
The CAD/USD exchange rate is trading lower due to the strengthening of the US dollar, which was influenced by mixed inflation data released this week.
April 12, 2024 | 3:29 pm
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The CAD/USD exchange rate has decreased as a result of the US dollar's appreciation following mixed inflation data.
The CAD/USD exchange rate is directly impacted by the strength of the US dollar, which in turn is influenced by economic indicators such as inflation data. Mixed inflation data can lead to increased volatility and strength in the US dollar, causing the CAD/USD rate to drop as observed.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100