USD/CAD attempts to snap a two-day winning streak, hovering around 1.3480 during the early trading hours of the Asian session on Friday. The Canadian
Improved WTI crude prices contribute to underpin the Canadian Dollar .attempts to snap a two-day winning streak, hovering around 1.3480 during the early trading hours of the Asian session on Friday. The Canadian Dollar experienced support as the US Dollar witnessed correction, coupled with the gains in Crude prices.Intermediate crude oil is trading around $89.50 per barrel by the press time, as it seeks to build on its recent gains.
Market participants will likely pay close attention to economic data releases, including the preliminary US S&P Global PMIs for September and Canada'sfor July. These figures can provide valuable insights into the economic conditions of both countries, which could be helpful in finding trading opportunities around the USD/CAD pair.
US Initial Jobless Claims on the week ending on September 15, reported 201,000 figures, swinging from the previous reading of 221,000, the lowest level since January. The data was expected to release a higher figure of 225,000.
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