USD/CAD seesaws below 1.3200 as US inflation-led blow jostles with sluggish oil – by anilpanchal7 USDCAD Oil Inflation Recession Fed
during early Wednesday. The Loonie pair’s latest gains could be linked to the US inflation data, as well as downbeat prices of Canada’s main export item WTI crude oil.
pays more attention to the recession woes than the fears of a supply crunch and the optimistic demand forecasts from the Organization of the Petroleum Exporting Countries .On Tuesday, US inflation data renewed fears of the Federal Reserve’s aggressive rate hike, as well as propelled the recession woes. Also favoring the USD/CAD bulls were the geopolitical concerns surrounding China and Russia. That said, US for August rose past 8.1% market forecasts to 8.3% YoY, versus 8.8% prior regains.
The inversion between the short-term and the long-term US Treasury bond yields also widened after US inflation data and propelled the recession woes, which in turn propelled the USD/CAD prices due to the pair’s risk-barometer status. That said, the US 10-year Treasury yields rallied to 3.412% and those for 2-year bonds increased to 3.76% following the data, around 3.41% and 3.745% respectively at the latest.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD Price Analysis: Surges on higher US inflation report, traders eye 1.3200USD/CAD Price Analysis: Surges on higher US inflation report, traders eye 1.3200 – by christianborjon USDCAD Majors Currencies Technical Analysis
Read more »
USD/CAD juggles below 1.3000 ahead of US Inflation, oil advancesThe USD/CAD pair is witnessing topsy-turvy moves as investors are awaiting the release of the US inflation data. The pair has turned sideways around 1
Read more »
EUR/USD pares US inflation-led losses below 1.0000, EU’s energy moves, trade talks eyedEUR/USD pares US inflation-led losses below 1.0000, EU’s energy moves, trade talks eyed – by anilpanchal7 EURUSD Inflation Recession Politics Energy
Read more »
USD/CNH Price Analysis: Struggles around 6.9200 as bears keep reinsUSD/CNH Price Analysis: Struggles around 6.9200 as bears keep reins – by anilpanchal7 USDCNY Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
USD/CAD struggles below 1.3000, hangs near two-week low ahead of US CPIThe USD/CAD pair struggles to capitalize on its modest uptick on Tuesday and attracts fresh selling in the vicinity of the 1.3000 psychological mark.
Read more »