Peak US Yields help Risk Rally CAD outperforms
With OPEC looming large over next couple of days we have USD/CAD breaking down on strong US stocks and falling global yields led by UK bonds.
Adding to the narrative was a smaller than forecast RBA rate hike today so could easily see a more balanced view on US rate hikes in future few sessions as we head into NFP.
Oil is very punchy on expectations of 1mil barrel cut, but CAD is more related to global risk appetite. Room for pullback to 1.3400-1.3380.
Adding to the narrative was a smaller than forecast RBA rate hike today so could easily see a more balanced view on US rate hikes in future few sessions as we head into NFP.
Oil is very punchy on expectations of 1mil barrel cut, but CAD is more related to global risk appetite. Room for pullback to 1.3400-1.3380.
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