Digital Coin News

USD/CAD remains biased higher around 1.3600 after paring gains

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 26 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 72%

USDCAD News

Majors,Macroeconomics,Canada

USD/CAD extends its winning streak, trading higher around 1.3600 for the third consecutive session during the Asian hours on Monday.

USD/CAD trims intraday gains on risk-on sentiment on Monday. The decline in the Crude oil prices undermines the Canadian Dollar. The US Dollar strengthened as the likelihood of a Fed rate cut in June diminished. The US Dollar strengthens, supported by higher US Treasury yields, thereby exerting upward support tothe USD/CAD pair.

30, at the time of writing, propelled by a surprising beat from the Nonfarm Payrolls report. The strong labor market performance in March, surpassing expectations, has bolstered the bullish sentiment for the US Dollar. US Nonfarm Payrolls reported a significant increase of 303,000 jobs in March, surpassing expectations of 200,000. However, the previous growth of 275,000 was revised downward to 270,000. According to the CME FedWatch Tool, the probability of a rate cut has decreased to 46.1%.

 

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 COİN

Coin Coin Latest News, Coin Coin Headlines

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

USD/CAD IG Client Sentiment: Our data shows traders are now net-short USD/CAD for the first time since Mar 06, 2024 15:00 GMT when USD/CAD traded near 1.35.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bullish contrarian trading bias.
Source: DailyFX - 🏆 305. / 63 Read more »