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USD/CAD held modest recovery gains around the 200-day moving average on May 31, 2022, after touching its lowest since April 22. Fed Governor Waller backed 50 basis point hikes, and the pair stayed capped by rising oil prices.
Expectations of aggressive US rate hikes support the dollar against commodity currencies, while firm oil prices limit the upside for USD/CAD. Price direction is driven mainly by rate and risk sentiment.
octaafrica.netMay 31, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
