USD/CAD sticks to intraday gains amid a slump in oil prices, broad-based USD strength By HareshMenghani USDCAD Recession Fed CPI Currencies
region. The intraday positive move extended through the early part of the European session and pushed spot prices back closer to the 1.3000 psychological mark.
Concerns about slowing global economic growth and fuel demand continued acting as a headwind for crude. Apart from this, a push by US President Joe Biden, to bring down soaring fuel costs, triggered a steep fall and dragged the black liquid to over a one-month low.
Despite the combination of supporting factors, bulls might refrain from placing aggressive bets around the
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