USD/CAD aims to recapture 1.3500 as USD Index rebounds amid US debt-ceiling issues – by Sagar_Dua24 USDCAD BOC Fed YieldCurve Oil
correction to near 1.3463 amid the recovery move by the US Dollar Index . The USD Index has refreshed its day’s high at 102.68 as US debt-ceiling issues have deepened further.
S&P500 futures generated moderate gains in the Asian session after a bearish Tuesday. The market mood seems mixed as risk-perceived currencies are facing severe pressure. The postponement of US debt ceiling issues till the weekend has weighed on Treasury yields. The yields offered on 10-year US TreasuryThe US Treasury is worried as each passing day is pushing the US economy towards recession.
The oil price has dropped sharply as investors are worried about deepening fears of a US recession. Going forward, the oil inventory data by the US Energy Information Administration will be keenly watched. It is worth noting that Canada is the leading exporter of oil to the US and lower
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