USD/CAD drops below 1.3350 as USD Index loses bullish momentum, Canada Inflation eyed USDCAD BOC Inflation Fed SEO
are rangebound, which has paused the Canadian Dollar. The USD Index has corrected to near 101.64 and is not showing any sign of recovery, at the time of writing.
S&P500 futures generated some gains in early Asia and are managing to hold themselves, portraying a recovery in the risk appetite theme. US equities were mildly bearish on Friday as chances for consecutive 25 basis points rate hikes from the Federal Reserve remained solid despite the release of the downside United States Retail Sales data. Also, Americanbonds
On Friday, monthly US Retail Sales contracted dramatically by 1.0% while the street anticipated a contraction of 0.4%. Squeezing retail demand was the outcome of higher rates from the Federal Reserve and tight credit conditions from US commercial banks. The households have postponed demand for costly goods to avoid the higher cost of financing.
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