تراجع الدولار مقابل الكندي مع تعافي أسعار النفط

USD/CAD remains steady after paring daily gains, trading around 1.3700 during the Asian hours on Friday. The pullback reflects support for the commodity-linked Canadian Dollar (CAD) as Oil prices recover. West Texas Intermediate (WTI) Oil price has rebounded to around $63.50 at the time of writing, though upside may be capped after the United States (US) and Iran agreed to hold talks in Oman on Friday. Tehran is expected to focus discussions on its long-running nuclear dispute with Western powers, while Washington wants talks to also cover Iran’s ballistic missile program, regional proxy support, and human rights issues. The USD/CAD pair may regain its ground as the US Dollar Index (DXY) remains near two-week highs, supported by the slowing pace of potential Federal Reserve (Fed) rate cuts. Fed Governor Lisa Cook said she would not back another cut without clearer evidence that inflation is easing, stressing greater concern over stalled disinflation than labor market weakness. Investors also weighed the implications of Kevin Warsh’s nomination as Fed chair, citing his preference for a smaller balance sheet and a less aggressive approach to rate reductions. The nomination also eased concerns about the Fed’s independence. Meanwhile, a run of US labor data this week signaled a cooling job market, reinforcing dovish Fed expectations. Markets now price two rate cuts this year, starting in June, with another possibly in September.