4 Global Market Updates- 11 October, 2022

 

In this article, we have covered the highlights of global market news about the USD/CAD, AUD/USD, EUR/JPY and NZD/USD.

USD/CAD eases off a two-year high and remains firmly above the 1.3800 level.

On Tuesday, several events cause the USD/CAD to reach its highest level since May 2020. The loonie is weakened by falling oil prices and finds support against a rising USD. Fears of a recession and aggressive Fed rate rise bets have continued to support the safe-haven dollar. On Tuesday, the USD/CAD pair gains momentum for the second straight day, reaching its highest point since May 2020. Throughout the early European session, the pair maintains its gains just below the mid-1.38000s and seems ready to extend the current robust surge seen over the previous week or so.

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