USD/CAD renews its intraday low near 1.3540 while skating on thin ice during early Tuesday, struggling to defend the week-start pullback from the high
It’s worth noting that the market’s indecision about the Fed’s future moves, especially after the last weekly impressive US data, also allows the Greenback to prepare for the key event.
It should be noted that the Federal Reserve Bank of New York unveiled its SCE Labor Market Survey results late Monday that suggested record wage expectations and could have contributed to the latest risk-off mood, as well as firmer bond yields. “The Lowest wage respondents would be willing to accept for a new job jumped to a record high of $78,645 in July, up from $72.873 a year ago,” said the findings.
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