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OANDA: US-China Trade Hope Boosts Markets
The US dollar is mixed against major pairs on Monday.
The positive news on the US-China trade front
unlocked risk appetite but US President Trump’s tweet about OPEC and oil prices put downward pressure on the Canadian dollar.
Stocks were boosted by trade deal hopes, while commodities were hit by Trump’s second tweetstorm as it once again targeted OPEC for keeping prices higher.
Oil dropped more than 3 percent with investors looking ahead at Fed Chair Powell’s testimony on Tuesday.
The Canadian dollar fell 0.41 percent pulled down by oil prices that depreciated after President Trump’s tweet.
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By OANDAThe US dollar is mixed against major pairs on Monday.
The positive news on the US-China trade front
unlocked risk appetite but US President Trump’s tweet about OPEC and oil prices put downward pressure on the Canadian dollar.
Stocks were boosted by trade deal hopes, while commodities were hit by Trump’s second tweetstorm as it once again targeted OPEC for keeping prices higher.
Oil dropped more than 3 percent with investors looking ahead at Fed Chair Powell’s testimony on Tuesday.
The Canadian dollar fell 0.41 percent pulled down by oil prices that depreciated after President Trump’s tweet.