USD/CAD SLIPS BELOW MID-1.3800S, DOWNSIDE POTENTIAL SEEMS LIMITED AMID FALLING OIL PRICES... ia7145 から-フォローミートレーディングコミュニティ

31 Jul 2024, 20:36 · Views 160

USD/CAD pulls back from the vicinity of the YTD peak touched on Monday.
Dovish Fed expectations cap the USD upside and prompt some profit-taking.
Bearish Oil prices could undermine the Loonie and help limit further losses.

The USD/CAD pair turns lower following an Asian session uptick to the 1.3865 region on Tuesday and for now, seems to have snapped a nine-day winning streak to its highest level since November 2023. The intraday downtick drags spot prices back below mid-1.3800s in the last hour, though any meaningful corrective decline still seems elusive.

Crude Oil prices remain under some selling pressure for the third straight day amid receding fears about a wider conflict in the Middle East. Apart from this, concerns about a weak demand in China – the world's largest crude importer – dragged the black liquid to its lowest level since June 10. This, along with the Bank of Canada's (BoC) dovish outlook, might continue to undermine the commodity-linked Loonie and act as a tailwind for the USD/CAD pair.

免責事項：本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。

この記事が気に入ったら、著者にチップを送って感謝の気持ちを表しましょう。