USD/CAD continues the losing streak on the fourth successive session, trading lower around 1.3570 during the early Asian session on Tuesday. The pair
USD/CAD continues the losing streak due to the improved Crude oil prices The Mid-East tension persists; and contributes support for the oil prices. Investors downplay the likelihood of additional rate hikes following the dovish remarks made by Fed officials. is encountering challenges stemming from a significant surge in oil prices, a trend that could be linked to the military conflict unfolding around the Gaza Strip.
Dallas Fed president Lori Logan suggested that there might be less necessity to raise the Fed funds rate, and Fed Vice Chair Philip Jefferson acknowledged the importance of the central bank proceeding cautiously with any additional increases in the policy rate. The US Dollar Index extends its losses on the fifth successive day, trading around 106.00 at the time of writing. Despite the ongoing tension between Hamas and Israel, the capital markets have turned positive.
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