USDCAD climbs to 1.3530, downside remains favored amid a solid risk-on mood – by Sagar_Dua24 USDCAD Fed BOC Oil Employment
dollar index
is in a sideways profile in early Tokyo after bloodshed on Friday. All pullbacks in the mighty DXY were considered as selling opportunities by the market participants as chatters started over a possible slowdown in Federal Reserve ’s rate hike pace. While the 10-year US Treasury yields are firmer above 4.16% despite falling odds for a 75 basis point rate hike in December. The odds for a three-quarter to a percent rate hike have trimmed to 38.5% after a less-hawkish commentary from ChicagoFed Evans is of the view that smaller rate hikes will be announced ahead as front-loading by the US central bank is done as risk is becoming two-sided sooner.
The Loonie got strengthened on Friday after the release of the robust payroll data. The economy has added 108.3k jobs vs. the expectations of 10k. Analysts at CIDC point out the surge could simply be a sign that some of the declines seen over the summer were simply statistical noise. According to them, the data support their call for a further 50bp interest rate hike at that time, but they warn there is still one more employment report to come before the next Bank of Canada meeting.
On the oil front, oil prices are holding themselves around $92.00 as expectations of a slowdown in the Fed’s rate hike have triggered chances of acceleration in oil demand’s prospects. Optimism is supported oil gathering pace and current upside momentum could send the oil prices further ahead.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Pairs in Focus This Week-GBP/USD,Oil,DAX,AUD/USD,USD/CADThe USDCAD initially rallied against the Canadian dollar, but with the resurgence in oil pricing, it makes a certain amount of sense that we have seen this pair turnaround- forextrade forextrading
Lire la suite »
Melon Music Awards 2022 Announces Nominees + Voting BeginsVoting has begun for the Melon Music Awards (MMA) 2022! On November 4, the Melon Music Awards officially announced the nominees for this year’s award ceremony, which will take place on November 26 at 6 p.m. KST. Only artists who released music between November 8, 2021 and November 3, 2022 were eligible for this year’s awards. Voting
Lire la suite »
Don’t Miss: Total Lunar Eclipse and Leonid Meteor ShowerThe Moon goes all red, plus Leonid meteors! The Leonids will battle against moonlight this year, but anyone with a view of the Moon in the a.m. on November 8 can enjoy a lunar eclipse. November 8 – Full moon November 8 – Total lunar eclipse in the hours before sunrise November 11 – The
Lire la suite »
New Coin Pokemon in The Daily LITG, 6th of November 2022Welcome to the Daily LITG. The world can seem like a terrible and strange place sometimes, but at Bleeding Cool, you can still read all about comics,
Lire la suite »
What's New on Hulu This Week: November 7 Through 13An intriguing horror movie is hitting Hulu this week, among other interesting content that's being added to the streaming service.
Lire la suite »