USD/CAD drops the most in a month as SVB, Fed concerns weigh on US Dollar, favor Oil price – by anilpanchal7 USDCAD RiskAppetite BOC Fed Inflation
improved as the US Treasury Department, Federal Reserve and the Federal Deposit Insurance Corporation took joint actions to tame the risks emanating from the Silicon Valley Bank and Signature Bank during the weekend. “All depositors of Silicon Valley Bank and Signature Bank will be fully protected,” said the authorities in a statement released afterward.
Alternatively, China’s dislike for the US interference in Taiwan matters and the better-than-expected US Nonfarm Payrolls join the Bank of Canada’s dovish play to weigh on the Loonie prices.
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