The USD/CAD pair falls vertically after a short-lived pullback to near 1.
USD/CAD falls sharply to near 1.3800 as the US Dollar tumbles amid steady Fed policy. The USD Index drops to near 106.16 as investors see the Fed done with hiking interest rates. Investors await the US and Canadian Employment data for further guidance. 3850 in the European session. The Loonie asset faces an intense sell-off as the US Dollar extends downside on expectations that the Federal Reserve is done with hiking interest rates for now.
7 against expectations and the former release of 49.0. Contrary, the S&P Global survey of private factories showed that the Manufacturing PMI met the 50.0 threshold in October. Meanwhile, investors await the US Nonfarm Payrolls data, which will be published on Friday. As per expectations, US employers hired 180K job seekers in October. On the Canadian Dollar front, the Employment data for October will be keenly watched, which will be released on Friday.
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