The Canadian dollar glided higher Tuesday as traders assembled themselves before the minutes of the Federal Reserve’s policy meeting, as well as key economic data this week.
Due Wednesday, investors await the Fed minutes to look for clues on the timing of interest rate hikes.
The loonie stood at 76.59 US cents from Monday’s 76.42 US cents.
I believe the market will retain its course and await “a couple of more numbers,” said Darcy Browne, Managing Director of Foreign Exchange Sales at CIBC World Markets.
Meanwhile, Canada will release the inflation and retail sales figures Friday.
The material has been provided by InstaForex Company – www.instaforex.com