USD/CAD struggles near multi-day low, around mid-13100s amid bullish Oil prices/softer USD – by hareshmenghani USDCAD China Fed Majors Currencies
consolidate the recent strong gains to over a three-month high touched on Monday and remain well supported by hopes that more stimulus from China - the world’s largest oil importer - will boost fuel demand. Apart from this, expectations for tighter global supply act as a tailwind for the black liquid, which, in turn, is seen underpinning the commodity-linked Loonie and acting as a headwind for the USD/CAD pair.
The Fed's policy outlook will play a key role in driving the USD demand in the near term and provide a fresh directional impetus to the USD/CAD pair. In the meantime, traders on Tuesday will take cues from the release of the Conference Board's US Consumer Sentiment Index and Richmond Manufacturing Index. This week's
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