USD/CAD slumps but clings to 1.2470s on Ukraine’s conflict and elevated oil prices By christianborjon USDCAD Majors Macroeconomics Technical Analysis
, amid a downbeat market mood, courtesy of recent developments in the Eastern Europe front. At the time of writing, the USD/CAD is trading at 1.2475.US equities finished in the red, reflecting a dismal sentiment. Russian officials said that even though Ukraine has made an effort to fulfill some of the Russian demands, peace talks have not reached a breakthrough, as reported by the Kremlin.
In the FX space, commodity-linked currencies like the Canadian dollar continues strengthening vs. the greenback. Overnight, the USD/CAD opened near 1.2500, the day’s highs, and retreated towards 1.2420s until settling down around the 1.2470-90 area.
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