The US dollar showed a strengthening value at the opening of trading earlier this week as there were important focus events taking place.
Before the Jackson Hole symposium will be held at the end of the week, investors first paid attention to the meeting between US President (US) Donald Trump and Ukrainian President Volodymyr Zelenskiy on Monday.
Trump chaired the meeting, which was also attended by European leaders, to discuss a solution to end the war between Ukraine and Russia.
Trump expressed the US's desire to help Europe guarantee security for Ukraine and hoped that the conference on Monday would lead to a meeting with Russian President Vladimir Putin, who is believed to also want to end the war.
Zelenskiy welcomed US involvement in efforts to help resolve the ongoing war, not just a ceasefire but real peace.
The discussions also brought an agreement to purchase US drones with Ukraine offering to buy US weapons worth $90 billion.
Investors remained vigilant to watch the movements of major currencies, especially the US dollar, which is strengthening.
Ahead of Federal Reserve (Fed) Chairman Jerome Powell's speech in Jackson Hole this weekend, the direction of price movement could change.
The FOMC meeting minutes report and US PMI data could influence the movement of the US dollar heading into the end of the week.
For today's focus data (Tuesday), Canadian inflation data will be the focus of publication in the New York session tonight.
The Canadian inflation rate forecast for July has risen again after recording a slow reading in the previous month.
