USD/CAD rose above 1.3200 as USD continues to gather strength. FOMC Minutes provided a boost to US T-bond yields. US Dollar Index extends daily rebound beyond 93.00. The USD/CAD extended its daily rebound in the American session and rose above 1.3200. As of writing, the pair was up 0.35% on the day at 1.3213. DXY soars after FOMC Minutes The minutes of the FOMC’s July meeting showed on Wednesday that most policymakers acknowledged costs to yield caps and targets including the rapid expansion of the balance sheet. Moreover, policymakers saw difficulties in “design and communication” with respect to yield curve control. These remarks provided a boost to US Treasury bond yield and allowed the US Dollar Index to extend its rally. At the moment, the 10-year US T-bond yield is up 1.5% on the day and the DXY is gaining 0.72% at 93.00. On the other hand, rising crude oil prices seems to be helping the CAD show some resilience for the time being. The barrel of West Texas Intermediate was last seen gaining 0.75% on a daily basis at $42.85. Commenting on the energy demand outlook, “based on the average projections of various institutions, including OPEC, EIA and the IEA, it is estimated that the world will reach about 97% of pre-pandemic oil demand during the fourth quarter,” Saudi Arabia’s energy minister Prince Abdulaziz bin Salman told reporters ahead of OPEC+ JMMC meeting. Technical levels to watch for FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: XAU/USD sinks on firmer US dollar tones and the FOMC FX Street 2 years USD/CAD rose above 1.3200 as USD continues to gather strength. FOMC Minutes provided a boost to US T-bond yields. US Dollar Index extends daily rebound beyond 93.00. The USD/CAD extended its daily rebound in the American session and rose above 1.3200. As of writing, the pair was up 0.35% on the day at 1.3213. DXY soars after FOMC Minutes The minutes of the FOMC's July meeting showed on Wednesday that most policymakers acknowledged costs to yield caps and targets including the rapid expansion of the balance sheet. Moreover, policymakers saw difficulties in "design and communication" with respect to yield curve control. These remarks… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
