Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Forex News

USD/CAD Sits Near Two-year High

Admin by Admin
September 21, 2022
in Forex News
0
USD/CAD
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The USD/CAD pair hits a two-year high on Wednesday, though struggles to capitalize on the move and retreats a few pips from the 1.3400 neighborhood. The pair, however, manages to stick to its modest intraday gains. The pair is now trading around the 1.3375-1.3380 region during the early European session.

The US dollar gains strong follow-through traction for the second straight day and remains supported by hawkish Fed expectations. This, in turn, is seen as a key factor acting as a tailwind for the USD/CAD pair.

The US central bank is widely anticipated to deliver another supersized 75 bps rate increase at the end of a two-day policy meeting on Wednesday. The markets have also priced in a small possibility of a full 100 bps hike, which, along with the prevalent cautious mood, continues to lend support to the safe-haven greenback.

The market sentiment remains fragile amid concerns about a deeper global economic downturn. A modest pullback in the US Treasury bond yields is holding back the USD bulls from placing aggressive bets.  Apart from this, a sharp intraday rally in crude oil prices underpins the commodity-linked loonie and further contributes to capping gains for the USD/CAD pair. Investors also seem reluctant and prefer to move to the sidelines ahead of the highly-anticipated FOMC policy decision, scheduled later during the US session.

Investors will further take cues from the updated economic projections and the so-called dot plot. Furthermore, Fed Chair Jerome Powell’s remarks at the post-meeting press conference will be scrutinized for clues about the future rate-hiking path. This will play a key role in driving the USD demand in the near term. Apart from this, oil price dynamics should help determine the next leg of a directional move for the USD/CAD pair. Heading into the key event risk, spot prices seem more likely to consolidate in a range.

SOURCE- FxStreet

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: USD/CAD
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

JPMorgan Remains Bullish Despite Decline in Crypto Demand

Next Post

Microstrategy Buys $6 Million BTC in Bear Market, Stock Down 6%

Admin

Admin

Next Post
Microstrategy buys bitcoin stock down

Microstrategy Buys $6 Million BTC in Bear Market, Stock Down 6%

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
USDD Depegs

USDD Stablecoin Depegs To $0.96, Tron (TRX) Dumped

December 12, 2022
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0
What is Defi?

Defi (Decentralized Finance)

0
Differences between Axie Infinity and Decentraland

Axie Infinity and Decentraland: Features and Differences

0
Bahrain Real Estate Company Starts Accepting Crypto Payments

Bahrain Real Estate Company Starts Accepting Crypto Payments

January 27, 2023
Industry Body Clarifies What Happens When Crypto Derivatives Crash

Industry Body Clarifies What Happens When Crypto Derivatives Crash

January 27, 2023
CFTC Pushes For Additional Crypto Acquisition Reviews

CFTC Pushes For Additional Crypto Acquisition Reviews

January 27, 2023
SBF Immediate Family Is Set To Be Questioned About The Financial Gains They Made From FTX

SBF Immediate Family Is Set To Be Questioned About The Financial Gains They Made From FTX

January 27, 2023

Recent News

Bahrain Real Estate Company Starts Accepting Crypto Payments

Bahrain Real Estate Company Starts Accepting Crypto Payments

January 27, 2023
Industry Body Clarifies What Happens When Crypto Derivatives Crash

Industry Body Clarifies What Happens When Crypto Derivatives Crash

January 27, 2023
CFTC Pushes For Additional Crypto Acquisition Reviews

CFTC Pushes For Additional Crypto Acquisition Reviews

January 27, 2023
SBF Immediate Family Is Set To Be Questioned About The Financial Gains They Made From FTX

SBF Immediate Family Is Set To Be Questioned About The Financial Gains They Made From FTX

January 27, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Reviews
  • Stocks

Recent News

Bahrain Real Estate Company Starts Accepting Crypto Payments

Bahrain Real Estate Company Starts Accepting Crypto Payments

January 27, 2023
Industry Body Clarifies What Happens When Crypto Derivatives Crash

Industry Body Clarifies What Happens When Crypto Derivatives Crash

January 27, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>