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USD/CAD steadies near 1.4015 as traders await US-Iran developments

FXStreet said investors are also looking to US initial jobless claims later Thursday for a potential catalyst.

Reported · Written up by our desk · Major Pairs

The USD/CAD pair held steady around 1.4015 in early European trading on Thursday, as FXStreet said traders waited for potential progress on US-Iran talks that could set the tone for the currency move.

FXStreet noted that the market is watching for signs of renewed tensions between the two countries, which could strengthen the commodity-linked Canadian dollar against the US dollar, given Canada’s role as a major oil exporter and the general impact of higher crude prices on the loonie.

The outlet also flagged upcoming US economic data, with US initial jobless claims due later on Thursday.

On the policy front, FXStreet pointed to remarks from Kansas City Fed President Jeff Schmid, who said tighter monetary policy may be needed to bring inflation back to the Fed’s 2% target, adding support for the US dollar near term.

Latest closeWTI crude $75.12 ▼0.9%

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