USD/CAD renews weekly top around 1.3800 as hawkish Fed bets battle with oil’s rebound – by anilpanchal7 USDCAD Oil Fed RiskAppetite Inflation
tly firmer prices of Canada’s main export WTI crude oil as the US Dollar Index traces firmer yields.rise half a percent to poke the $90.30 level at the latest, reversing the previous day’s pullback moves, as hedge fund and money market players keep their hawkish bias for the black gold despite a firmer US dollar.
Elsewhere, the US 30-year Treasury yields rise to a fresh high since January 2014 and propel the DXY to print a five-day uptrend around 113.30.bets and geopolitical, as well as economic, fears amid the ongoing Russia-Ukraine and the Sino-American tussles. That said, the CME’s FedWatch Tool signals a 78.4% chance of the Fed’s 75 bps rate hike in November.
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