Canadian Dollar Rises Amid Tariff Concerns and Oil Gains
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USDCAD : The Canadian dollar slightly rose against the U.S. dollar, with bond yields reaching multi-month highs, partly recovering from recent declines due to U.S. trade tariff threats. The loonie traded at 1.4405 to the U.S. dollar, recovering from a near 5-year low in December. Concerns about potential U.S. tariffs and their impact on the Bank of Canada have influenced the market. Despite strong job data in December, investor confidence in further BoC rate cuts has waned. Speculators have increased bearish bets on the Canadian dollar. Meanwhile, the U.S. dollar gained against major currencies as expectations for Federal Reserve rate cuts diminished. Oil prices rose 2.9% to $78.82 per barrel due to anticipated U.S. sanctions on Russian oil. The Canadian 10-year yield increased to 3.507%, marking its highest level since July 9.
For this pair a bearish reversal is still anticipated in the near future!
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TradeWithTheTrend3344
USDCAD : The Canadian dollar slightly rose against the U.S. dollar, with bond yields reaching multi-month highs, partly recovering from recent declines due to U.S. trade tariff threats. The loonie traded at 1.4405 to the U.S. dollar, recovering from a near 5-year low in December. Concerns about potential U.S. tariffs and their impact on the Bank of Canada have influenced the market. Despite strong job data in December, investor confidence in further BoC rate cuts has waned. Speculators have increased bearish bets on the Canadian dollar. Meanwhile, the U.S. dollar gained against major currencies as expectations for Federal Reserve rate cuts diminished. Oil prices rose 2.9% to $78.82 per barrel due to anticipated U.S. sanctions on Russian oil. The Canadian 10-year yield increased to 3.507%, marking its highest level since July 9.For this pair a bearish reversal is still anticipated in the near future!
No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
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