© Reuters. The USD/CAD is stable in the beginning of the session
Investing.com – The u.s. dollar was little changed against its canadian counterpart on Monday, as sentiment on the greenback was put under pressure by the caution regarding the u.s. bill on tax reform.
The volumes of transactions are expected to become increasingly thin throughout the week, before the Christmas holidays.
USD / CAD was little changed at 1,2872 before 9.30 am (13.30 GMT).
The greenback initially rose after the republicans released Friday a note of revision tax.
They are confident that the Congress will pass the reform of the tax this week, with a vote in the Senate expected as early as Tuesday.
In Canada, the figures showed that purchases of foreign securities increased from 16,69 billion canadian dollars in September to 20,81 billion canadian dollars in October, a figure revised to 16,81 billion canadian dollars.
Meanwhile, the canadian dollar has received has not been supported by the price of oil Monday, still boosted by supply disruptions in the North sea and Nigeria.
The aussie declined against the euro, with EUR / CAD rising 0.50% to 1,5190.