Daily digest market movers: Canadian Dollar recedes again as risk appetite withers
- Markets are keeping one foot in safe havens as investors grapple with declining bid-to-cover ratios on US Treasuries this week.
- Broad-market support for the Greenback is sending the CAD lower, extending Tuesday’s turnaround.
- A 7-year note auction will draw plenty of attention in the middle of the US session.
- Markets could push further into risk-off sentiment if bid-to-cover falls below 2.44.
- Investors will also be looking out for US quarterly GDP and PCE inflation in the latter half of the trading week.
- US Q1 GDP is expected to ease to 1.3% versus the previous 1.6%, while Core PCE inflation is expected to hold flat at 0.3% MoM.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.