By Fxstreet.com---
- USD/CAD takes the bids as WTI weakness, trade pessimism contrast broad USD strength.
- The absence of major data/events keeps highlighting trade/political headlines.
Following its U-turn from the 200-day exponential moving average (EMA), the USD/CAD pair extends to the run-up to 1.3300 during early Wednesday.
The quote failed to enjoy oil price rally on Tuesday amid doubts surrounding the September month trade talks between the US and China, coupled with increasing odds of a global recession, mainly based on the deepening of the US two-year and 10-year treasury yield curve.
The US and China have been at loggerheads ever since the US President Donald Trump announced harsh anti-China measures after Beijing retaliated to the Trump administration’s previously announced tariffs. Full story on Fxstreet.com