USD/CAD advances sharply on a buoyant US Dollar on risk-aversion linked to Credit Suisse USDCAD Majors Macroeconomics Sentiment RiskAversion
USD/CAD climbs on market sentiment deterioration, as investors seeking safety bolstered the US Dollar.USD/CAD Price Analysis: To resume its uptrend, buyers are eyeing 1.3900.rallies on safe-haven flows towards the greenback sponsored by the US financial banking crisis woes threatening to spread around the globe. The failure of two banks in the United States spurred a sell-off in Credit Suisse’s stock, amongst increasing fears of a financial crisis. Therefore, the USD/CAD is trading at 1.
Therefore, safe-haven flows bolstered the US Dollar , with the US Dollar index advancing 1.13%, at 104.836. However, US Treasury bond yields have been punished by investors, with US 2s and 10s extending their losses, each down by 37 basis points and 24 bps, respectively, at 3.889% and 3.453%.
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