- USD / CAD returns above 1.3000 and threatens to extend recovery.
- Loonie trailed NZD and AUD on Tuesday.
USD / CAD fell to its lowest level in two years at 1.2928 on Monday, amid strong gains in stocks and oil and on Tuesday it is prolonging the rebound. The price climbed to 1.3042 recently, then fell back to find support above 1.3000 and is trading at 1.3025, on positive ground for the day and a long way from Monday’s floor.
The pair remains in the area of ​​the maximums despite the fact that oil and stocks rose in the last hours. The loonie is being among those linked to commodities the one that is having the worst performance.
The dollar is regaining ground, supported by the rise in US Treasury yields. The US Dollar Index (DXY) erased a large part of last week’s losses on Monday and gained 0.65%. On Tuesday it operates without major changes, having returned to Nuetral from negative terrain.
The report of Notices of job offers for September (JOLTS) will be the only data on Tuesday in the US. Attention remains focused on politics. In addition, several Federal Reserve officials will speak on Tuesday, which may have an impact.
Credits: Forex Street
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