USD/CAD recovery eyes 1.2700 as oil retreats, USD rise ahead of US ADP employment data By anilpanchal7 USDCAD Oil RiskAppetite Inflation Fed
pair seesaws around 1.2655-60 during an inactive start to Thursday’s Asian session.
It’s worth noting, however, that fears of growth and inflation, not to forget hawkish comments from the Fed policymakers, bolstered the and poured cold water on the BOC’s strong rate hike. Also fueling the USD/CAD prices was a retreat in the WTI crude oil prices, Canada’s key export. Elsewhere, St. Louis Federal Reserve Bank President James Bullard also raised concerns about the US recession as he repeated that a pace of 50 bps hike per meeting is a “good plan” for now. Further, Federal Reserve Bank of Richmond President Thomas Barkin mentioned, “You can't find a recession in the data or actions of business execs,'' speaking on Fox Business.
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