USD/CAD trims a part of intraday gains, up a little around 1.3600 amid stronger USD – by hareshmenghani USDCAD Recession Fed Bonds Currencies
An uptick in Crude Oil prices underpins the Loonie and keeps a lid o the intraday positive move.The USD/CAD pair
Crude Oil prices reverse a modest dip and touch a nearly two-week high in the last hour, which, in turn, is seen underpinning the commodity-linked Loonie and acting as a headwind for the USD/CAD pair. The uptick in Oil prices, however, lacks bullish conviction amid worries that rapidly rising borrowing costs will dampen economic growth and dent fuel demand. Apart from this, resurgentdemand, bolstered by hawkish Fed expectations, supports prospects for some meaningful upside for the major.
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