USD/CAD traces the upward path on the fourth successive day, trading higher near 1.3710 during the Asian session on Wednesday. The pair is experiencin
Stronger US jobs data bolster the US yields; contributing support for the US Dollar.traces the upward path on the fourth successive day, trading higher near 1.3710 during the Asian session on Wednesday. The pair is experiencing upward support amid cautious sentiment due to the US Federal Reserve’s interest rates trajectory. hovers around 107.10 at the time of writing, aligned with the 11-month high marked on Tuesday.
The JOLTS report revealed that job openings improved to 9.61 million in August from the previous reading of 8.92 million, surpassing market expectations. Additionally, the hawkish tone surrounding the Fed to keep interest rates higher for a prolonged period is reinforcing positive sentiment for the Greenback.
On the Canadian side, the S&P Global Manufacturing PMI was released on Monday. The report showed a decline to 47.5 in September from the previous reading of 48.0.prices dragged the commodity-linked CAD lower as the country is the leading oil exporter to the US. West Texas Intermediary Crude Oil trades lower around $88.00 per barrel by the press time.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD extends gains around 1.3580, US, Canada PMI data eyedUSD/CAD kicks off the week by continuing the gains in the second trading session. The spot price is bidding the quotes higher around 1.3580 during the
Read more »
USD/CAD: A return to the early September high near 1.37 is a realistic riskUSD/CAD moves sharply back to the 1.36 area. Economists at Scotiabank analyze the pair's outlook. Support aligns at 1.3520/1.3525 Solid USD gains on F
Read more »
USD/CAD jumps to near 1.3600 as US Dollar recovers, Fed Powell’s speech eyedThe USD/CAD pair moves vertically to near the round-level resistance of 1.3600 in the late European session. The Loonie asset strengthens as the US Do
Read more »
USD/CAD: Loonie could extend its gains over the near termEconomists at HSBC expect the CAD to strengthen further against the USD over the near term. CAD could capitalise on high Oil prices We see the CAD str
Read more »
USD/CAD climbs to 1.3700 neighbourhood, highest since March on sliding Oil prices/bullish USDThe USD/CAD pair builds on last week's solid bounce from the vicinity of the very important 200-day Simple Moving (SMA) support near the 1.3400 mark a
Read more »
USD/CAD: The risk of a spike is highThe Canadian Dollar advanced in September which was notable given the broad US Dollar strength. Economists at MUFG Bank analyze Loonie’s outlook. CAD
Read more »