USD/CAD bears attack 1.3400 as Oil rises to $75.00 amid firmer sentiment, focus on Fed wagers, China – by anilpanchal7 USDCAD Oil Fed China RiskAppetite
China reopening, challenges for Fed hawks underpin risk-on mood.Upbeat Canada jobs report versus mixed US data adds strength to the bearish moves.bears occupy the driver’s seat as the Loonie pair slides to the lowest levels in a month heading into Monday’s European session. In doing so, the quote takes clues from the market’s upbeat sentiment, as well as firmer prices of Canada’s main export itemThat said, WTI crude oil buyers poke $75.
Further, US ISM Services PMI slumped to the lowest levels in 31 months while suggesting a contraction in activities with 49.6 figures for December, versus the market expectations of 55 and 56.5 marked in November. On the same line, US Factory Orders also slumped, falling 1.8% in November after gaining 0.4% in October.
dropped to 5.0% during the stated month, compared to 5.2% market forecasts and 5.1% previous readings.Raphael Bostic
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