The USD/CAD pair trades back and forth near the round-level resistance of 1.3600 in the European session. The Loonie asset struggles to find a directi
USD/CAD turns choppy around 1.3600 as investors await US data. Fed policymakers believe that higher bond yields could diminish the need for more interest rates. Russia’s Novak warned that the deepening war situation in Gaza could affect the oil market. on as investors await the Federal Open Market Committee minutes and the producer inflation data for September. S&P500 futures added some gains in the London session, portraying an upbeat market mood.
The core PPI accelerated marginally to 2.3% against the former reading of 2.2%. Meanwhile, oil price trades inside Monday’s range as investors await further development in the Israel-Hamas conflict. Russian Deputy Prime Minister Alexander Novak said on Wednesday that “Russia and Saudi Arabia will discuss oil market situation and oil prices,” TASS news agency. Novak warned that the deepening war situation in Gaza could affect the oil market.
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