Open Demo Account
Home / Market Update / Forex Market / USD/CAD slumps as T-bond yields fall

USD/CAD slumps as T-bond yields fall

Mohamed Abdelhamid 15 November, 2021 7:30 pm Forex Market, Market Update

After reaching four-week highs, the USD/CAD pair has slumped for the second successive session down 0.18%, the pair is now trading at 1.2524 during on Monday.

The fall is mainly driven by US dollar’s current weakness, caused by a weaker than expected University of Michigan consumer sentiment that plummeted to a 10-year low in November amid concerns about the pace of elevated prices.

The fall of the U. S. bond yields weighed on demand for the US dollar, which is on defensive mode as the week begins.

Speculations are mounting that U. S. President Joe Biden will release supplies from the Strategic Petroleum Reserve (SPR), which could weigh on the oil-commodity-linked Canadian dollar, that could lift the prospects of the USD/CAD pair.

Tags

Check Also

European Equities Stumble as U.S.-Iran Ceasefire Talks Collapse and Hormuz Blockade Sparks Energy Fears

Key Takeaways: European markets open broadly lower, with the DAX and CAC 40 leading declines …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends