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USD/CAD Falls Below 1.3100; Oil Prices Remain Mixed Ahead of US Oil Stockpile Data
Published June 28, 2017
USD/CAD is hovering just below the 1.3100 mark as the US dollar endures sharp weakness; comments from Federal Reserve officials and the delay over Trump’s healthcare bill have weighed heavily on the greenback
Senate Republican leaders moved the vote on Trump’s healthcare proposal until after the July 4th recess in order to rally additional support for the bill; this delay stoked fears that Trump’s tax plans and infrastructure cuts will face similar objections when proposed to US Senators
Janet Yellen opined that she does not expect another financial crisis to hit the world economy within “our lifetimes”; FOMC member Neel Kashkari created doubts in the market after questioning the Fed’s urgency to raise interest rates
The euro is nearing 1-year highs this morning, marking its largest one day gain since June 2016 by rallying nearly 1.5% due to positive comments from European Central Bank President Mario Draghi,
Oil prices are mixed this morning as the market anticipates data on US oil stockpiles from the US Energy Information Administration; investors will also look to Donald Trump’s energy speech on Thursday