USD\/CAD couldn’t react much to the upbeat employment numbers on Friday as the tech sell-off had taken centre stage and Monday was a trading holiday for the US and Canadian markets.<\/p>\n
USD\/CAD traders will be weighing the six-day winning streak in the US dollar index and the weakness in WTI crude oil prices which is Canada’s top export item. Ahead of the North-American session open, the pair remains compressed as US-China, and Indo-Sino tensions are back in the news.<\/p>\n
The pair was trading around 1.3100 in the pre-European session on Tuesday and has trimmed its earlier gains.<\/p>\n
The US-China tensions are back in play as Beijing imposed visa restrictions on American reporters and the rumours are rife regarding a possible ban from Washington on cotton imports from Xinjiang. Added to the US-China tensions, risk sentiments were also affected by the Indo-China border tensions. In Europe, Brexit tensions and the demand for further easing from the European Central Bank are helping the US dollar against its competitors.<\/p>\n
The dollar index is currently enjoying a six-day winning streak pulling back from its 28-month low; DXY was near 93.15, up 0.10 Percent today.<\/p>\n
Asia-Pacific stocks had a mixed day while the US 10-year Treasury yields dropped to 0.70 Percent; the WTI crude prices fell 0.40 Percent to 39.25 dollars, a positive for the USD\/CAD pair as CAD usually weakens on lowering crude oil prices.<\/p>\n","protected":false},"excerpt":{"rendered":"
USD\/CAD couldn’t react much to the upbeat employment numbers on Friday as the tech sell-off had taken centre stage and Monday was a trading holiday for the US and Canadian markets. USD\/CAD traders will be weighing the six-day winning streak in the US dollar index and the weakness in WTI crude oil prices which is […]<\/p>\n","protected":false},"author":163946612,"featured_media":82843,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379],"tags":[1683,3135,1413,3147,1869,1926],"class_list":{"0":"post-104280","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"tag-canadian-dollar","9":"tag-dxy","10":"tag-ecb","11":"tag-us-china-tensions","12":"tag-usd-cad","13":"tag-wti"},"acf":[],"yoast_head":"\n