The USD/CAD pair corrected sharply to near 1.3600 in the early New York session. The Loonie asset faces selling pressure amid further downside in the
USD/CAD drops sharply to near 1.3600 as oil pricestrengthens and the US Dollar corrects sharply. Participation of other Middle East countries in the conflict could dampen the market mood. Monthly US headline and core inflation are seen expanding 0.3% US Dollar and expectations of more upside in the oil price due to the deepening Israel-Hamas conflict. S&P500 opens on a moderately positive note amid improved market mood.
As per the estimates, monthly headline and core inflation are seen expanding by 0.3%. The annual headline and core CPI are seen softening marginally to 3.6% and 4.1% respectively. Rising oil prices are strengthening the Canadian Dollar. Escalating tensions in the Middle East are expected to keep oil prices upbeat. IMF chief economist Pierre Gourinchas said on Tuesday, that the “IMF research indicates a 10% increase in Oil prices would weigh down on global output by about 0.
Canada Latest News, Canada 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: Hovers above 1.3650 major level on surging US DollarUSD/CAD snaps the two-day losing streak, trading higher around 1.3670 aligned with the 1.3700 psychological level during the early European session on
Read more »
USD/CAD extends losses near 1.3570 on higher oil pricesUSD/CAD continues the losing streak on the fourth successive session, trading lower around 1.3570 during the early Asian session on Tuesday. The pair
Read more »
USD/CAD eyes downside to near 1.3600 as oil rallies on Middle East tensionsThe USD/CAD pair sets for a breakdown to near the round-level support of 1.3600 as deepening Middle East tensions due to Israel-Hamas bellicose has ra
Read more »
USD/CAD extends losses near 1.3650 on improved oil prices, tension in Middle EastUSD/CAD continues the losing streak for the third successive session, trading lower around 1.3650 during the early Asian session on Monday. The pair i
Read more »
USD/CAD trims the intraday gains near 1.3580 on surging Crude pricesUSD/CAD has almost trimmed the intraday gains, struggling to break the three-day losing streak. The spot price trades around 1.3580 during the Europea
Read more »
Canadian Dollar extends rebound on Gaza-tensions-fueled Crude Oil bounceThe Canadian Dollar (CAD) is finding some lift on Monday, extending the Loonie’s rebound against the US Dollar (USD). The USD/CAD is trading back into
Read more »