4 Global Market Updates- 5 December, 2022

 

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

The USD/CAD is in for a rocky ride as the BOC-Fed policy divergence widens.

In the Tokyo session, the loonie asset fell significantly below the round-level support of 1.3400 as the US Dollar saw a large increase in risk appetite.

After hitting a new low of 104.14, the US Dollar Index (DXY) has reversed sideways. The risk-on impulse has significantly intensified. Hence it is anticipated that the USD Index will continue to decline. To protect the US economy from financial threats, the Federal Reserve (Fed) is changing its culture to gradual rate increases, putting tremendous pressure on the US dollar. Investors are waiting for the US ISM Services PMI data to be released to get new momentum, which is why S&P500 futures are performing below expectations.

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