© Reuters. The USD/CAD is advancing while oil retreats
Investing.com – The u.s. dollar advanced on Tuesday versus its canadian counterpart, the drop in oil prices weighing on the canadian dollar, tied to commodity prices, even if the statistics of u.s. inflation should limit the gains in the greenback.
The USD / CAD was up 0.12% to 1,2595 at 9.30 am (13.30 GMT).
The canadian dollar has depreciated by a further decline in oil prices, after a slight rebound on Tuesday.
In the Usa, investors await data on inflation in consumer prices on Wednesday and the inflation data producer prices on Thursday for further clues on the speed with which the Federal Reserve will increase interest rates this year.
The resumption of Monday for global equity markets also weighed on the greenback. U.s. equities have been particularly stimulated by the announcement of an infrastructure plan of $ 2 billion by the administration to Trump.
This plan is part of the agreement two-year budget passed by the Congress of the United States last Friday, putting an end to a brief closure of the government.
The agreement is expected to boost federal spending by nearly $ 300 billion and suspend the debt ceiling for a year.
The loonie rose against the euro, with EUR / CAD up 0.58% at 1,5552.