© Reuters. Canadian dollar little changed, with the Bank of Canada in focus
Investing.com — The Canadian dollar was stable near two-month lows against its us counterpart on Tuesday, as investors the Bank of Canada expects the recent policy decision on Wednesday.
USD/CAD was GMT to trade at 1.2650 from 09:30 AM ET (01:30 PM), the almost unchanged for the day, touched an Intraday high of 1.2669, the since August 31.
The loonie, as the Canadian dollar is also known, has been on the decline since Friday, when the data show a decline in domestic retail sales underscored expectations that the BoC would keep interest rates hike unchanged this month, according to the in July and September.
Canada’s Central Bank is expected to interest observers expect the steps once more this year, but most of the market to wait for the policy until December.
Meanwhile, the demand for the greenback is underpinned, as investors focused remained on who will be the next Chairman of the Federal Reserve.
President Donald Trump told reporters Monday that he was «very, very close» to, who should the Fed after interviewing five candidates for the position.
They contain current Fed chair Janet Yellen, whose term of office ends in February, as well as Fed Governor Jerome Powell, a Stanford University economist John Taylor, trombone chief economic advisor, Gary Cohn, and former Fed Governor Kevin Warsh.
The greenback also gained on the expectations for the U. S tax reform after President Trump said on Sunday he was optimistic Congress a tax plan that he could sign the end of the year would pass.