USD/CAD bears eye 1.3540 as downbeat US Dollar, yields jostle with sluggish Oil – by anilpanchal7 USDCAD Oil RiskAppetite Inflation CentralBanks
Cautious optimism, downbeat Treasury yields weigh on US Dollar.takes offers to refresh intraday low near 1.3580 during early Thursday morning in Europe. In doing so, the Loonie pair drops for the fourth consecutive day while extending the previous day’s downside break of a short-term key support trend line toward another support line.
drops half a percent to around 103.85 at the latest as the US 10-year Treasury yields remain depressed at around 3.65%, extending the previous day’s pullback from the monthly high.prints mild losses as it pares the daily gains around $78.40. Even so, hopes of more energy demand due to fierce winter and more travel forecasts keep the black gold positive on a weekly basis. declined to 6.8% YoY in November from 6.9% in October, versus market forecasts of 6.7%.
Bloomberg cites China’s State Council and the People’s Bank of China to hint at more positives for the dragon nation and revives the market’s optimism of late. “China’s State Council, People’s Bank of China and the country’s top securities regulator jointly conducted a study during last week’s economic policy meeting, aiming to prioritize growth and boost the property market in 2023,” reported Bloomberg.
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