Loonie edges lower despite positive data

Canadian dollar declined on Tuesday amid uncertainty about Ukraine, which took precedence over positive Canadian data today.

Ukraine called on the west to increase the pressure on Russia to stop the war and relieve the humanitarian crisis in his country.

Ukrainian and Russian officials have failed to reach a compromise so far on a ceasefire agreement.

Even worse, the Russian army continues to lay siege on the coast Ukrainian city of Mariupol, while asking the forces to give up and surrender the city, which was rebuffed by defenders. 

Currently, EU countries are discussing a potential ban on Russian energy supplies, joining the US and Britain.

As for data, Canada's Raw Materials Price Index rose 3.1%, beating estimates of 2.6%.

However the data filed to underpin the Canadian dollar due to rising risk aversion in the market.

CAD/USD last settled at 0.942 as of 17:14 GMT, with a session-high at 0.7955, and a low at 0.7922.