Risk-On Mood Returns as Middle East Tensions Cool, Chip Stocks Rally
Markets shift to risk-on mode as Middle East tensions ease and semiconductor stocks rebound. Attention now turns to Canadian jobs data.
USDCAD
After a volatile start to the week driven by Middle East conflict fears and AI sector jitters, markets have regained a risk-on posture. A de-escalation in geopolitical tensions and a recovery in chip stocks have lifted sentiment across asset classes.
Traders are now focusing on the upcoming Canadian employment report, which could provide direction for USD/CAD. Strong jobs data would reinforce the Bank of Canada's cautious stance, while a miss might fuel rate cut expectations.
Source: FXStreet Forex News