USD/CAD drops to three-day low, around 1.3600 mark ahead of Canadian/US data – by hareshmenghani USDCAD Recession Fed Bonds Currencies
A combination of factors could offer some support to the pair and help limit losses.Hawkish Fed, rising US bond yields should revive the USD demand and lend support.pair continues with its struggle to find acceptance or build on the momentum beyond the 1.3700 mark and turns lower for the second successive day on Tuesday. The downward trajectory drags spot prices to a three-day low, around the 1.
The Bank of Japan-inspired strong rally in the Japanese Yen is seen weighing on the greenback. Apart from this, a slight recovery in the risk sentiment - as depicted by a modest bounce around the US equity futures - exerts additional pressure on the safe-haven greenback and attracts fresh selling around the USD/CAD pair. That said, a combination of factors should help limit the downside for the buck and lend some support to the major, at least for the time being.
Investors remain concerned that a surge in new COVID-19 cases in China could delay a broader reopening of the economy and dent fuel demand. This, in turn, acts as a headwind for crude oil prices, which, in turn, is seen undermining the commodity-linked Loonie. Furthermore, growing recession fears might keep a lid on any optimism in the markets.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD bulls attack 1.3700 as yields underpin US Dollar rebound, Oil dropsUSD/CAD clings to mild gains around 1.3700 as the US Dollar reverses the intraday losses heading into Tuesday’s European session. The Loonie pair’s ru
Read more »
USD/CAD Price Analysis: Bearish RSI divergence teases sellers around 1.3650USD/CAD Price Analysis: Bearish RSI divergence teases sellers around 1.3650 – by anilpanchal7 USDCAD Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
USD/CAD recovers a few pips from daily low, keeps the red around mid-1.3600sThe USD/CAD pair opens with a bearish gap on the first day of a new week and remains on the defensive through the mid-European session. The pair, howe
Read more »
Weekly Forex Forecast \u2013 EUR/USD, Silver, USD/CADThe difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week and in which
Read more »
USD/CAD Price Analysis: Bulls running out of steam near 1.3700 key hurdleUSD/CAD Price Analysis: Bulls running out of steam near 1.3700 key hurdle – by anilpanchal7 USDCAD Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
USD/CAD picks up bids to 1.3680 as oil retreats amid sluggish session, Canada/US inflation eyedUSD/CAD picks up bids to 1.3680 as oil retreats amid sluggish session, Canada/US inflation eyed – by anilpanchal7 USDCAD RiskAppetite Inflation CentralBanks Oil
Read more »