USD/CAD sticks to gains on stronger USD, remains below mid-1.3400s amid bullish Oil prices – by hareshmenghani USDCAD Fed Bonds OPEC Currencies
early part of the European session. The pair currently trades around the 1.3430-1.3435 region, up nearly 0.10% for the day, and for now, seems to have snapped a three-day losing streak to the 1.3400 mark, or a nearly three-week low touched on Friday. gains some follow-through traction for the second successive day and turns out to be a key factor acting as a tailwind for the USD/CAD pair.
The markets continue to cheer the optimism over the passage of legislation to lift the government's $31.4 trillion debt ceiling to avert an unprecedented American default. Adding to this, a private-sector survey showed on Monday that China's services activity picked up in May and boosted investors' confidence, which is evident from a generally positive tone around the equity markets.
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