USD/CAD licks its wounds near multi-day low around 1.3600 as Oil price retreats – by anilpanchal7 USDCAD Oil China RiskAversion Currencies
crude oil, Canada’s main export item. However, the latest challenges to sentiment and the US Dollar’s corrective bounce prods the pair’s two-day downtrend near the multi-day bottom ahead of a speech from Bank of Canada Deputy Governor Toni Gravelle.
data marked a surprise daw in inventories by flashing -6.076M figure for the week ended on March 24 versus the previous addition of 3.262M. picks up bids to 102.60 while printing the first daily gains in three. In doing so, the greenback’s gauge versus the six major currencies traces upbeat US Treasury bond yields amid mixed US data and the market’s indecision.
It’s worth observing that the recent US blacklisting of Chinese companies and China’s dislike for the meeting of the White House speaker and Taiwan President challenge the sentiment.
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