USD/CAD is testing the resistance level at 1.2590.
The Canadian dollar edged lower against its U.S. counterpart on Tuesday, as a sell-off in China's stock market weighed on sentiment and a record low for U.S. bond yields after adjusting for inflation signaled worries about the economic outlook. World stocks fell after investors sold Chinese internet giants for a third straight day, while real U.S. bond yields declined ahead of a Federal Reserve interest rate decision on Wednesday, with some investors betting that the pace of global economic recovery has peaked.
It’s a quiet day ahead on the economic calendar. U.S consumer confidence and core durable goods orders will draw attention later in the day, however.