The Canadian Dollar (CAD) weakens against the US Dollar (USD) on Tuesday, with USD/CAD climbing above the 1.3830 mark as softer-than-expected inflation data from Canada fuels speculation of a dovish stance from the Bank of Canada (BoC).
The price of Gold reacted inconclusively yesterday to Friday's summit meeting between the US and Russian presidents in Alaska. The results of the talks that were made public remained too vague to indicate any progress in efforts to end the war in Ukraine.
Tomorrow morning at 3 a.m. BST, the Reserve Bank of New Zealand (RBNZ) will announce its interest rate decision, and most analysts, including myself, expect a cut to 3%. The market has already priced in this move at over 90%.