• The Canadian Dollar had little strength on Tuesday, but US Dollar was weaker.
• Canada remains absent from economic calendar as markets focus on inflation figures.
• US PPI inflation cooled further, US CPI inflation in the barrel for Wednesday.

The Canadian Dollar (CAD) found higher ground against the Greenback but otherwise chalked in a poor performance across the major currencies board on Tuesday. Market sentiment has tilted to the upside after US Producer Price Index (PCI) inflation receded in July, sparking a move back into bets of a double rate cut from the Federal Reserve (Fed) in September.

Canada remains absent from the economic data docket this week, leaving traders to focus squarely on Wednesday’s upcoming US Consumer Price Index (CPI) inflation print. US CPI inflation is expected to continue the trend of cooling toward the Fed’s 2% annual inflation target.