4 Global Market Updates-19 August, 2022

 

In this article, we have covered the highlights of global market news about the USD/CAD, GBP/USD, NZD/USD, and EUR/USD.
The USD/CAD is approaching 1.3000 as yields boost the DXY and oil eases ahead of Canada Retail Sales.

During the first hour of Friday’s European trading session, USD/CAD buyers approach the monthly high while revisiting the daily top around 1.2970. The Loonie pair draws cues from the stronger US dollar and the lower pricing of WTI crude oil, Canada’s principal export.

As a result of market concerns about an economic slowdown in China and Europe, the Sino-American conflict, and aggressive Fed rhetoric, the US Dollar Index (DXY) has risen toward regaining the monthly high of around 107.70. The US 10-year Treasury rates support the greenback’s index by reversing the previous day’s decline from the monthly high to 2.928% by the press, resuming a one-month high.

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