• USD/CAD started the day soft before a pivot in the US session.
• Canada absent from the economic calendar on Tuesday.
• US Durable Goods declined more than expected, US PCE in the pipe.

USD/CAD settled to an intraday low of 1.3484 before rallying back above the 1.3500 handle after US Durable Goods Orders declined more than expected. The pair remains mired in near-term congestion as markets await US Personal Consumption Expenditure Price Index (PCE) data on inflation later in the week.

Canada waits until Wednesday to make an appearance on the economic calendar with Q4’s Current Account. This Canadian data release will be overshadowed, however, by the US Gross Domestic Product (GDP) report due simultaneously at 13:30 GMT on Wednesday.