ng a recovery move from below 1.3320. A bullish reversal cannot be claimed yet as it passes through various filters. No doubt, the trading activity is low on account of Thanksgiving Day but the market mood is still solid.
The USD Index is auctioning like a dead cat amid the unavailability of any potential trigger ahead due to the light. However, the hangover of less-hawkish commentary from Federal Open Market Committee minutes will continue to impact US Dollar ahead. Meanwhile, the 10-year US Treasury yields have dropped below 3.69%.
The long-term US yields are expected to remain on the tenterhooks as the Federal Reserve is expected to shift to a lower interest rate hike for its December monetary policy meeting. Commentary from Fed policymakers as per FOMC minutes indicate that financial risks in the United States economy are accelerating led by extreme policy tightening.
Therefore, a slowdown in the rate hike pace would reduce those risks and would also present an opportunity to observe the impact of efforts made by theOn the Canadian Dollar front, investors are awaiting the release of the Gross Domestic Product for the third quarter, which will release on Tuesday. On a quarterly basis, the GDP data is expected to decline to 0.4% from the prior release of 0.8%.