USD/CAD refreshes three-week high on modest USD strength, bullish Oil prices cap gains – by hareshmenghani USDCAD Fed Bonds RiskAppetite Currencies
The Fed’s hawkish outlook, along with a softer risk tone, benefits the USD and lend support.USD/CAD
pair attracts some buying for the second straight day on Thursday and touches a fresh three-week high during the Asian session, which bulls now awaiting a sustained move beyond the 1.33000 mark before placing fresh bets.outlook , which, in turn, is seen as a key factor acting as a tailwind for the USD/CAD pair. The US central bank, at its June policy meeting, opted for a pause to assess the impact of 10 previous rate hikes, though the minutes released Wednesday indicated a greater likelihood of further policy tightening. In fact, almost all members supported resuming rate hikes at a future meeting as inflation remains unacceptably high.
China introduced export curbs on two metals - widely used in semiconductors, electric vehicles and high-tech industries - to the US. The abrupt move is viewed as a response to efforts by the US to curtail China's technological advancements and might cause more disruption to global trade. This takes its toll on the global risk sentiment and drives some haven flows towards the buck.
price dynamics, should contribute to producing short-term trading opportunities around the USD/CAD pair ahead of the critical monthly jobs data from Canada and the US, due for release on Friday.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
USD/CAD faces barricades around 1.3300 amid subdued USD Index, oil jumpsThe USD/CAD pair has faced stiff barricades near the round-level resistance of 1.3300 in the early New York session. The Loonie asset is expected to r
Weiterlesen »
USD/CAD Signal: USD Drifts Lower Against the CADShort-term rally should be thought of as opportunities to start shorting the $USDCAD currency pair again. forexsignals tradingstrategy TradingSignals
Weiterlesen »
USD/CAD slides towards 1.3200 ahead of Canada PMI as Oil price recovers, US Dollar strugglesUSD/CAD slides to 1.3235 as the Loonie pair traders flex muscles to overcome the three-day-old inaction amid the early hours of the European session o
Weiterlesen »
USD/CAD Price Analysis: Bounces off 50-SMA towards 1.3260 hurdleUSD/CAD bulls flex muscles around 1.3240 as it refreshes intraday high while consolidating the previous day’s losses amid the initial hour of Wednesda
Weiterlesen »
USD/CAD soars above the 20-day SMA after hawkish FOMC minutesFollowing the release of hawkish FOMC minutes, the USD/CAD pair surged above the 20-day simple moving average (SMA), reaching 1.3285. The increase in
Weiterlesen »
EUR/USD trades with a mild positive amid subdued USD demand, remains below 1.0900The EUR/USD pair attracts some buying during the Asian session on Wednesday and recovers a part of the previous day's modest losses. Spot prices curre
Weiterlesen »