USD/CAD retreats from one-week high amid rising Oil prices, stronger USD to limit the downside – by hareshmenghani USDCAD Fed Bonds PMI Currencies
gh touched earlier this Tuesday. The pair trades with a mild positive bias heading into the North American session and is currently placed just above the 1.3500 psychological mark.prices rally over 1% amid hopes for an improvement in US fuel demand and disruptions in Canadian supply due to wildfires in the oil-rich Alberta province.
The overnight hawkish remarks by a slew of influential Federal Reserve officials lifted market bets that the US central bank will keep interesthigher for longer. This, along with hopes that US politicians can come together on a debt ceiling deal, keeps the US Treasury bond yields elevated and continues to benefit the Greenback.
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