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Stock Markets Recover After Unsettled Trading World stock indexes rose on Thursday despite mixed sentiment among investors. The main topic of trading was Nvidia's forecasts, which, while still
The greenback has surged to a fresh two-year peak today in an extremely volatile move, with the DXY Dollar Index testing the 108.00 level. This surge comes on the heels of disappointing soft data readings from the Eurozone and the UK, which have dampened
USDCAD is edging higher today, trading a tad above the October 13, 2022 high at 1.3977. CAD bulls’ latest attempt to push USDCAD below the September 25, 2024 ascending trendline failed, with the pair quickly climbing higher. The US dollar also got a boost from Thursday’s stronger US data prints, geopolitics and the hawkish rhetoric from Fed members. For the current bullish trend to remain in place, a new peak, above the four-year high of 1.4104, is probably needed.
The Canadian dollar is lower on Friday. In the North American session, USD/CAD is trading at 1.3998 at the time of writing, up 0.16% on the day. On the data calendar, Canada releases retail sales and the US publishes the services and manufacturing PMIs.
Meta Platforms faces a multibillion-dollar lawsuit after the U.S. Supreme Court dismissed its appeal over the Cambridge Analytica data scandal, potentially leading to a $2 billion settlement.