The Canadian Dollar (CAD) experienced a slight decline on Wednesday as risk-averse sentiment drove the Greenback higher. Geopolitical tensions in the Middle East and the investor outlook on the upcoming US employment figures are currently the main focus in the market this midweek.
Earlier this week, Canada released its updated Purchasing Managers Index (PMI), but it garnered little attention. Instead, the preliminary US Nonfarm Payrolls (NFP) data took the spotlight on Wednesday, as investors considered the possibility of additional rate cuts from the Federal Reserve (Fed).
