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USD/CAD refreshes three-week high on modest USD strength, bullish Oil prices cap gains

From fxstreet.com

The USD/CAD pair attracts some buying for the second straight day on Thursday and touches a fresh three-week high during the Asian session, which bulls now awaiting a sustained move beyond the 1.33000 mark before placing fresh bets. The US Dollar (USD) adds to its weekly gains and remains well supported by the Federal Reserve's (Fed) hawkish outlook, which, in turn, is seen as a key factor acting as a tailwind for the USD/CAD pair. The US central bank, at its June policy meeting, opted for a pause to assess the impact of 10 previous rate hikes, though the minutes released Wednesday indicated a greater likelihood of ... (full story)

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  • Category: Fundamental Analysis