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.
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