USD\/CAD<\/strong><\/a> is filling a wound around 1.2675 during Tuesday’s mid-Asia session, following its biggest daily drop in four weeks. Cautious market optimism lowers prices of Canada’s main export, WTI crude, to support the latest rally. However, mixed concerns and a sense of caution ahead of the US and Canadian December trade numbers seem to be testing the Loonie pair’s recent corrective downside.<\/p>\nThat said, WTI Crude Oil prices extend the previous decline from multi-day highs, falling 0.4% on the day around $90.00 by press time. In doing so, the black gold seems to justify the recent pause in US Treasury yields, after falling from two-year highs on Monday. The Sino-US trade wars and recent disappointing China data also pose challenges for oil traders. However, it should be noted that the risk of a war between Russia and Ukraine and concerns about the inability of OPEC+ members to meet production targets are raising hopes among oil buyers’ energy. Elsewhere, trucking protests in Canada and the US-China trade wars also seem to boost USD\/CAD amid a slowing Asian session.<\/p>\n
Against this backdrop, 10-year US Treasury yields rose 1.6 basis points to 1.93%, near their highest levels since late 2020, while equity futures of the US, the nearest slight increase was around 4,485. That said, benchmark US Tbond coupons fell from two-year highs the previous day as Wall Street closed slowly. Additionally, stocks in the Asia-Pacific region are also rallying to reflect a slightly more positive market sentiment.<\/p>\n
Going forward, the US Balance of Trade in Goods and Services for December, expected at $83 billion from $80.2 billion, will rank ahead of Canada’s International Trade in Goods for specified month, projected at $2.62 billion versus $3.13 billion, for the entertainment of the day USD\/CAD traders. pair. However, special attention will be focused on risk catalysts and the US Consumer Price Index on Thursday for January.<\/p>\n","protected":false},"excerpt":{"rendered":"
USD\/CAD biggest daily cut in a month drops below 1.2700 amid oil price drop USD\/CAD is filling a wound around 1.2675 during Tuesday’s mid-Asia session, following its biggest daily drop in four weeks. Cautious market optimism lowers prices of Canada’s main export, WTI crude, to support the latest rally. However, mixed concerns and a sense<\/p>\n... continue reading<\/a>.","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[20,265,19,24,164,22,201],"yoast_head":"\r\nUSD\/CAD biggest daily cut in a month drops below 1.2700 amid oil price<\/title>\r\n<meta name=\"description\" content=\"USD\/CAD is filling a wound around 1.2675 during Tuesday's mid-Asia session, following its biggest daily drop in four weeks.\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/MU\/usd-cad-biggest-daily-cut-in-a-month-drops-below-1-2700-amid-oil-price-drop\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"USD\/CAD biggest daily cut in a month drops below 1.2700 amid oil price\" \/>\r\n<meta property=\"og:description\" content=\"USD\/CAD is filling a 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