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- USD/CAD sets to recapture 1.3800 amid a risk-off mood ahead of Powell’s speech.
- Fed policymakers support one more interest rate hike to ensure the return of inflation to 2% in a timely manner.
- Falling oil prices indicate that investors are less worried about Middle East concerns.
The USD/CAD pair extends a rally inch far from the round-level resistance of 1.3800 in the European session. The Loonie asset is expected to recapture the critical resistance of 1.3800, being supported by a strong recovery in the US Dollar due to a risk-off mood ahead of the speech from Federal Reserve (Fed) Chair Jerome Powell.
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