USD/CAD retreats from one-week high amid rising Oil prices, stronger USD to limit the downside

USD/CAD retreats from one-week high amid rising Oil prices, stronger USD to limit the downside – by hareshmenghani USDCAD Fed Bonds PMI Currencies

gh touched earlier this Tuesday. The pair trades with a mild positive bias heading into the North American session and is currently placed just above the 1.3500 psychological mark.prices rally over 1% amid hopes for an improvement in US fuel demand and disruptions in Canadian supply due to wildfires in the oil-rich Alberta province.

The overnight hawkish remarks by a slew of influential Federal Reserve officials lifted market bets that the US central bank will keep interesthigher for longer. This, along with hopes that US politicians can come together on a debt ceiling deal, keeps the US Treasury bond yields elevated and continues to benefit the Greenback.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FXStreetNews /  🏆 14. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

USD/CAD rebounds from 1.3480 support amid downbeat Oil price, focus on US debt ceiling talksUSD/CAD rebounds from 1.3480 support amid downbeat Oil price, focus on US debt ceiling talks – by anilpanchal7 USDCAD Oil RiskAppetite Fed FiscalPolicy
Read more »

USD/CAD Price Analysis: Bulls need to get over recent tops or face strong bearsAs per a prior analysis whereby we had, USD/CAD bulls moving in to test above 1.3500, the market had moved in on the area and bulls have remained in c
Read more »

Pairs in Focus This Week \u2013 AUD/USD, USD/JPY, GBP/USDGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of May 21th, 2022 here.
Read more »

Trading Support and Resistance \u2013 EUR/USD, GBP/USDThis week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
Read more »

Weekly Forex Forecast \u2013 NASDAQ 100 Index, GBP/USD, USD/JPYThe difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade.
Read more »

USD/JPY jumps to near 138.00 as USD Index defends downsideThe USD/JPY pair has extended its sharp recovery from 137.60 in the early European session. The major has regained strength as the US Dollar Index (DX
Read more »