2014.07.2303:49:44UTC+00Canadian dollar slightly changed against US dollar

The Canadian dollar was slightly changed versus the US dollar Tuesday as a lack of local economic catalysts left the currency swirling in a close range amid the reappearance of certain cautious risk appetite in global markets.

The US data showing its consumer price index climbed 0.3% in June pushed the loonie earlier as it helped uplift the greenback, but the impact was said to be short lived.

"That was the initial catalyst and then really the market, in the absence of a material move, just unwound the short-term profits and went back to a neutral range, mirroring that of yesterday," said Gareth Sylvester, Director at Klarity FX.

Sentiment in financial markets worldwide became more upbeat Tuesday following a spike in tensions in Ukraine and the Middle East on Monday pressed the investors to seek safe havens. However, markets have not come back to a fully risk-on mood as the US Treasuries dropped, dragging the yield on Canadian 10-year bonds down to its lowest in more than a year.

The currency closed the North American session at C$1.0736 to the dollar or 93.14 US cents, slightly weaker than Monday's C$1.0730 or 93.20 US cents.