The Canadian dollar held its ground against the US dollar on Thursday as traders avoided large directional bets ahead of the latest US GDP report and remarks from Federal Reserve Governor Kevin Warsh. Oil prices, an important influence on the commodity-linked loonie, were relatively stable, while the US dollar remained supported by expectations that the Federal Reserve could keep interest rates higher for longer. Warsh, who is known for hawkish leanings, is expected to discuss monetary policy, with markets watching for signals on the timing of potential rate cuts. Stronger US growth or a hawkish speech could support the greenback and pressure the Canadian dollar, while weaker GDP data or a dovish tone could revive rate-cut expectations and benefit the loonie. USD/CAD (the US dollar-Canadian dollar exchange rate) has been consolidating, and traders are watching for a breakout after the two events. A weaker Canadian dollar could raise import costs and add to inflation, while a stronger currency could ease price pressures but reduce export competitiveness.