• USD/CAD trades on a flat note around 1.4060 in Friday’s early Asian session. 
• Fed’s Powell said there is no need to hurry rate cuts as the US economy remains strong. 
• The lower crude oil prices continue to undermine the Loonie.

The USD/CAD pair trades flat near 1.4060 amid the consolidation of the US Dollar (USD) during the early Asian session on Friday. The US October Retail Sales will be in the spotlight on Friday along with the Fedspeak. 

The Greenback holds steady near the fresh 2024 highs despite Trump trades showing signs of slowing. The upside of the pair might be limited amid the cautious remarks from the US Federal Reserve (Fed). On Thursday, Fed Chair Jerome Powell said that the recent performance of the US economy has been “remarkably good,” giving the Fed room to lower interest rates at a careful pace.

Furthermore, Producer inflation in the US rose more than expected in September. Data released by the US Bureau of Labor Statistics on Thursday showed that the US Producer Price Index (PPI) rose 2.4% on a yearly basis in October. This figure followed the 1.9% rise seen in September (revised from 1.8%) and came in above the market expectation of 2.3%.