USD/CAD picks up to 1.3850, remains wavering within previous ranges 

• The US Dollar appreciates moderately on Wednesday but remains trapped between 1.3820 and 1.3870.
• The market, so far, is shrugging off Trump's threats to the Federal Reserve's independence.
• Oil prices' 2.5% depreciation from Monday's highs is adding pressure on the commodity-sensitive CAD.

The US Dollar is posting moderate gains against the Loonie on Wednesday. Still, it remains trapped within the weekly range, roughly between 1.3820 and 1.3870, with all eyes on the standoff between US President Donald Trump and the Federal Reserve.

Investors, so far, are shrugging off concerns about the consequences of the unprecedented attempts by a US president to influence the central bank's decisions. The market might be awaiting developments on Governor Cook´s lawsuit over Trump's attempts to fire her.

Upbeat US data, low Crude prices support the Greenback

On the macroeconomic front, US data released on Tuesday showed better-than-expected Durable Goods Orders in July, indicating resilient industrial activity. Somewhat later, the Conference Board's Consumer Sentiment Index deteriorated less than expected, which provided some support to the US Dollar.

Also on Tuesday, the Governor of the Bank of  Canada, Tiff Macklem, called for more flexibility in the rate-setting framework to respond to the changes in the global economic context and dismissed a revision of the 2% inflation target.

Crude Oil, Canada's main export, remains depressed despite Trump's threats to Russia for pushing back peace talks with Ukraine. The US benchmark WTI has depreciated more than 2.5% from Monday's highs, returning to levels below $63.00, adding bearish pressure on the Canadian Dollar.