The trade week ahead: Why the USD is everythingThe trade week ahead: Why the USD is everythingThe trade week ahead: Why the USD is everything

The USD/CAD pair fluctuated in a narrow band above the 1.33 mark for the majority of the day before coming under modest bearish pressure in the last hours with the rising crude oil prices allowing the commodity-related Loonie to gather strength against its rivals. After touching a session low of 1.3272, the pair erased a small portion of its losses and was last seen trading at 1.3290, down 0.3% on a daily basis.Shortly after the United States(US)-China high-level trade negotiations kicked off in Washington on Thursday, an official from the US Chamber of Commerce said there was a possibility of a currency agreement in trade talks in exchange for a delay in tariff hikes. Moreover, Chinese Vice Premier Liu He voiced China’s willingness to reach an agreement “on matters that both sides care about.”The improved risk sentiment provided a boost to crude oil prices and the barrel of West Texas Intermediate is now up 1.3% on the day at $53.50.Earlier in the day, the only significant macroeconomic data release of the day revealed that the core inflation in the US, as gauged by the core Consumer Price Index (CPI), stayed unchanged at 2.4% on a yearly basis in September and failed to trigger a market reaction.The US Dollar Index, which tracks the Greenback’s performance against a basket of six major currencies, struggled to pull away decisively from the daily low it set at 98.66 after the data and is now moving sideways near 98.80, erasing 0.3% on a daily basis.Forex Crunch is a site all about the foreign exchange market, which consists of news, opinions, daily and weekly forex analysis, technical analysis, tutorials, basics of the forex market, forex software posts, insights about the forex industry and whatever is related to Forex.Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader’s level of experience should be carefully weighed before entering the Forex market. There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market. Any comments made on Forex Crunch or on other sites that have received permission to republish the content originating on Forex Crunch reflect the opinions of the individual authors and do not necessarily represent the opinions of any of Forex Crunch’s authorized authors. Forex Stock Global broker scam Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Omissions and errors may occur. Any news, analysis, opinion, price quote or any other information contained on Forex Crunch and permitted re-published content should be taken as general market commentary. This is by no means investment advice. Forex Crunch will not accept liability for any damage, loss, including without limitation to, any profit or loss, which may either arise directly or indirectly from use of such information. .