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USD/CAD advances to near two-week top, bullish Oil prices to cap gains ahead of US data
The USD/CAD pair scales higher for the fourth successive day on Wednesday and climbs to a nearly two-week high, around the 1.3545 region during the Asian session. The positive move is exclusively sponsored by a modest pickup in the US Dollar (USD) demand, though bullish Crude Oil prices might keep a lid on any further gains. The initial market reaction to Tuesday's disappointing US Durable Goods Orders fades rather quickly amid growing acceptance that the Federal Reserve (Fed) will keep interest rates higher for longer. This, in turn, assists the USD Index (DXY), which tracks the Greenback against a basket of ... (full story)