USD/CAD holds above the 1.3700 area, investors await the BoC rate decision

The USD/CAD pair trades sideways around 1.3715 during the early Asian session on Monday. Investors await the Bank of Canada (BoC) Interest Rate Decisi

USD/CAD remains flat around 1.3715 in the Asian session on Monday. Bank of Canada is likely to hold the rate unchanged for the remainder of the year. Federal Reserve officials expressed a desire to hold rates unless inflation rises. Investors will closely monitor the Bank of Canada Interest Rate Decision on Wednesday. on on Wednesday, which is expected to hold the rate at 5.0%.

Atlanta Federal Reserve President Raphael Bostic said on Friday that he doesn't think that the US central bank will cut the rate before the middle of next year. Fed Philadelphia President Patrick Harker reiterated his preference to keep interest rates unchanged. While Fed Cleveland President Loretta Mester said the US central bank is "at or near the peak of the rate hike cycle. Traders will monitor the US S&P Global PMI on Tuesday.

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