Daily markets, macro & broker intelligence
The dollar and euro are locked in an uneasy standoff as currency traders refuse to commit ahead of a pivotal US inflation release while geopolitical risk around the Strait of Hormuz keeps oil-sensitive pairs on edge.
The Canadian dollar is consolidating near its strongest level in eight weeks, underpinned by a meaningful rally in crude oil prices that has revived risk appetite for commodity-linked currencies. Traders are now watching whether USD/CAD can sustain a break below key support or if a reversal is brewing.
U.S. Treasury yields are pausing their recent climb as a slide in crude oil takes some pressure off inflation expectations, but the calm may be short-lived with a key jobs report looming on the calendar.
A landmark U.S.-Iran peace deal rattled energy markets and triggered a sharp repositioning in the Canadian dollar, sending USD/CAD lower as traders weighed competing forces of oil supply risk and improved global risk appetite.