Canadian Dollar Slumps as Markets Await Guidance from Central Banks

Canadian Dollar stuck near 12-month lows as Fed stands pat on rates, markets await tone from Fed Chair Powell.

BoC Governor Tiff Macklem wrapping up testimony, expected to strike hawkish tone on financial conditions.

Crude oil prices receding, sapping support for commodity-linked Loonie.

USD/CAD chart turning increasingly bullish, pair gains 1.5% over last week.

Markets to turn focus to Friday's Canadian jobs data, US non-farm payrolls after Fed policy update.