USD/CAD drops to near 1.3720 as hopes of resumption of BoC policy-tightening deepen – by Sagar_Dua24 USDCAD Fed BOC Oil DollarIndex
from the US Dollar Index and rising hopes for a resumption of a policy-tightening spell by the Bank of Canada after the release of robust Canadian Retail Sales data.
S&P500 futures have generated solid gains in the Asian session as the consideration of expanding the emergency lending program by US authorities has infused confidence among the market participants. is struggling to find strength as the street is cheering the expectations of termination in the policy-tightening spell by the Federal Reserve . The USD Index is defending the 103.00 support, however, the downside looks favored.are deepening amid rising credit tightening conditions by US banks after turmoil. Banks are having more precautions while disbursing advances. It looks like financial institutions have heavily faced the consequences of a blood fight against stubborn inflation.
Monthly Canadian Retail Sales jumped to 1.4%, higher than the consensus of 0.7%, and a flat performance observed earlier. Robust demand by Canadian households might force firms to hike prices for goods and services offered, which could propel the need for further rate hikes by theOn the oil front, the oil price is juggling in a narrow range above $69.00. The black gold is gathering strength for extending the upside as Russia can attract more sanctions.
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