USD/CAD finds support near 1.3440 ahead of Canadian Retail Sales – by Sagar_Dua24 USDCAD Fed BOC RetailSales YieldCurve
ndex has also picked bids near 102.80. Earlier, the USD index witnessed selling pressure after failing to sustain above the critical resistance of 103.00 as Republican House of Representatives Joseph McCarthy announced that negotiations with the White House will reach a deal of raising the US borrowing limit.
S&P500 ended Wednesday’s session on a bullish note on hopes that US Treasury will get raised in debt-ceiling and will be able to pay its obligated bills on time. Also, the expectations for a pause in the policy-tightening process are solid as tight credit conditions by the Federal Reserve have resulted in lower credit disbursals by regional banks to small-scale firms.
US delegates don’t have another option than to allow raising the US debt ceiling to avoid default in obligated payments by the Federal, however, spending initiatives will definitely cut ahead. Rising expectations of US debt ceiling raise approval have eased demand for US Treasuryfront, after recording some persistence in inflationary figures, investors are shifting their focus toward Friday’s Retail Sales data. Monthly Retail Sales data is seen contracting by 1.4% vs. a contraction of 0.
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