Canadian Dollar trims losses as a more positive market mood hurts the USD

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 18 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 72%

USDCAD News

Currencies,SEO

The Canadian Dollar (CAD) is trading higher on Wednesday to snap a five-day sell-off that has sent the Loonie 1.7% lower.

Canadian Dollar advances moderately as market sentiment improves. USD/CAD is pulling back despite the Fed’s hawkish stance and lower oil prices. Current Canadian Dollar recovery is likely to be short-lived. The Canadian Dollar is trading higher on Wednesday to snap a five-day sell-off that has sent the Loonie 1.7% lower. A positive risk sentiment, coupled with lower US yields, is hurting the safe-haven US Dollar and offsetting the CAD’s adverse fundamental background.

The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR /JPY . Technical analysis: USD/CAD in corrective pullback with 1.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trading Emerging Market Forex Pairs - USD/MXN, USD/BRL, USD/ZAR, USD/INR, USD/CNHIn the dynamic realm of forex trading, emerging market currency pairs have garnered significant attention in recent years for their unique blend of volatility and potential returns.
Source: DailyFX - 🏆 305. / 63 Read more »