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The USD/CAD pair is losing ground after registering gains in the previous session, trading around 1.3950 during the European hours on Monday. The daily chart's technical analysis suggested a sustained bullish sentiment, as the pair continues to trade within the ascending channel pattern.
Japan’s bond market just fired a warning shot at the global economy. The country’s 40-year government bond yield surged to 3.445% on Monday, the highest it’s been in two decades.
Gold (XAU/USD) price remains within a tight range, trading slightly higher near $3,243 at the time of writing, with three main themes at play on Monday. Tensions are brewing in the Middle East with Israel embarking on another massive ground offensive.
Markets went red before the opening bell on Monday after Moody’s cut the United States’ top credit rating, hammering stock futures, lifting Treasury yields, and dragging down gold.
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, has retraced its recent gains from the previous session and is trading around 100.40 during the Asian hours on Monday.