USD/CAD extends four-day downtrend to 1.3650 as US Dollar retreats, Oil price recovers – by anilpanchal7 USDCAD RiskAppetite Oil YieldCurve Fed
arly Wednesday in Europe. In doing so, the Loonie pair cheers the broad US Dollar weakness and the latest recovery in Canada’s key export item WTI crude oil.
On the other hand, WTI crude oil portrays the first daily gain in three while extending the bounce off a three-month low to $72.40 by the press time. While the US Dollar’s weakness could be linked to the black gold’s latest gains, upbeat China Retail Sales and Industrial Production joins the hopes of more energy demand, backed by the OPEC forecasts, keep the energy buyers positive.
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