• Canadian Dollar middles as investors await key Fed appearance.
• Canada PMI missed the mark, to little effect.
• US labor preview worrying bellwether for Friday NFP.

The Canadian Dollar (CAD) is largely flat on Wednesday as broader markets await a key appearance from the US Federal Reserve. Investors have broadly baked in a rate hold from the US central bank today, but markets are looking for a more solid policy guidance stance from the Fed as inflation continues to plague rate cut hopes.

Canada saw a minor tick down in its S&P Global Manufacturing Purchasing Managers Index early in the American trading session, but market momentum remains tepid. US data stands front and center in the midweek market session, with another US Nonfarm Payrolls (NFP) Friday looming at the end of the week.