USD/CAD struggles to...from kb6846621

16 Jul 2024, 21:59 · Views 512

USD/CAD struggles to extend recovery above 1.3500 amid weak US Dollar. Cooling US labor market conditions indicate that Fed rate cut bets for June remain on the table. Slower Canada’s wage growth indicates that the inflation outlook is softening. The USD/CAD pair faces pressure while attempting to extend recovery above the psychological resistance of 1.3500 in the European session on Monday. The Loonie asset is expected to resume its downside journey as the broader appeal for the US Dollar re

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Impact on Gold Prices When China reduces its purchases of gold, the demand for gold in the global market decreases. Gold prices are sensitive to changes in demand. A significant buyer like China cutting back on purchases can lead to a surplus in the market, driving prices down.

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