USD/CAD flubs recovery above 1.3600 due to mixed US Q4 GDP.
Canada sees soured Current Account print that misses expectations.
Thursday’s Canada GDP to be eclipsed by US PCE.
USD/CAD saw an early Wednesday rally above the 1.3600 handle pull back into recent congestion after US Gross Domestic Product (GDP) figures were mixed on release. Markets will be pivoting to focus on Thursday’s US Personal Consumption Expenditure Price Index (PCE) as the Federal Reserve’s (Fed) inflation metric of choice.
Canada saw a worse-than-expected print in the fourth quarter Current Account, but the figure still recovered from the previous decline. Canadian Q4 GDP is also slated for Thursday, but it is set to be entirely overshadowed by the US PCE inflation update.
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