A combination of factors prompted aggressive selling around USD/CAD on Friday. Rising oil prices underpinned the loonie and exerted pressure amid a weaker USD. Traders now eye Canadian GDP/US PCE inflation data for a meaningful impetus. The USD/CAD pair added to its heavy intraday losses and dived to a three-day low, around the 1.2725 region during the early part of the European session. Spot prices extended the...
USD/CAD held steady near the multi-week high amid sustained USD buying. The prospects for rapid Fed rate hikes continued underpinning the greenback. The deteriorating global economic outlook also acted as a tailwind for the buck. The USD/CAD pair seesawed between tepid gains/minor losses through the first half of the European session and was last seen trading with a mild positive bias, around the 1.2835 region. ...
USD/CAD is displaying a sense of exhaustion after reaching elevated levels at 1.2830.Oil prices have rebounded sharply on the announcement of prudent monetary policy in China.The speech from BOC’s Macklem will remain in focus. The USD/CAD pair is witnessing some signs of exhaustion after a juggernaut upside move from the previous week’s low at 1.2458. The asset has been scaling higher as negative market sentiment has been underpinni...
