USD/CAD advances towards 1.3800 as market mood heats further, oil extends recovery

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USD/CAD advances towards 1.3800 as market mood heats further, oil extends recovery – by Sagar_Dua24 USDCAD Oil Fed Inflation YieldCurve

Fed’s Beige Book has indicated labor demand moderation due to economic slowdown anticipation.The USD/CAD pair

The US dollar index has climbed to Wednesday’s high at around 113.10 in the early trade and is expected to surpass the same with less effort. Also, the 10-year US Treasury yields have jumped to 4.15% amid soaring bets for a bigger rate hike by the Federal Reserve . Adding to that, economic activities have remained flat in major districts and labor demand has moderated as firms have ditched the recruitment process in anticipation of an economic slowdown.

 

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