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USDCAD Rebounds as Sino-US Tensions Brew
The US dollar could see a silver lining in the tensions between the US and China. President Donald Trump’s executive orders to ban popular Chinese apps WeChat and TikTok are the latest escalations in already souring relations between the two powers
While the battle for tech supremacy unfolds, the prospect of Chinese retaliation is likely to drive investors off risky assets, as a reminiscence of previous trade wars. Due to this, the greenback could see more buying interests and rise again as a safe haven currency.
The buck has bounced off the February low of 1.3220. A meaningful rally would need to pierce through the 1.3600 cluster.
EURCHF Rises as Investors Put Faith in Euro
The euro has been inching up against most pairs thanks to newfound confidence in the union. The massive recovery package was more of a political message that underpinned the EU’s credibility. The bullish turnaround is expected to sustain itself as the European block now s...
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