4 Global Market Updates- 30 November, 2022

 

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

USD/CAD is still on the defensive around the mid-1.3500s, but the fall seems limited.

On Wednesday, the USD/CAD pair experienced some selling pressure and fell from a three-week high at the 1.3645 level reached the day before. During the early hours of the European day, spot prices are dragged below mid-1.3500s by an intraday decline supported by a slight decline in the US dollar.

The US Dollar bulls are on the defensive due to several issues, which are regarded as applying some negative pressure to the USD/CAD pair. Investors have priced in a comparatively lower 50 bps lift-off in December because they are sure that the Fed would decrease the pace of its policy tightening. A softer tone around US Treasury bond rates and stability in the stock markets put pressure on the safe-haven dollar, which serves as indicators of this.

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