<\/p>\n
\n Share:<\/span><\/p>\n The USD\/CAD<\/a> has decisively reclaimed the 1.3500 major handle for Tuesday. The US Dollar Index<\/a> (DXY) is pumping higher across the entire market, bolstered by a hawkish Fed and risk aversion taking a bite out of the market’s appetite for riskier assets.<\/p>\n The broad US Dollar Index (DXY) is at its highest levels since last November, and the Greenback (USD) is taking a step higher. Even with oil<\/a> prices rising for Tuesday which would normally prop up the Loonie (CAD), the USD is still the clear winner on the charts.<\/p>\n US Treasury yields are knocking on multi-year highs with the 10-year Treasury yield holding above 4.5%, pushing the USD higher. US markets are increasingly concerned about a potential US government shutdown looming, knocking risk appetite even further back.<\/p>\n On the data docket it’s notably CAD-thin, leaving investors to focus almost entirely on US data for this week.<\/p>\n Tuesday saw US Housing Price Index figures cleanly beat expectations, printing at 0.8%, leaping over the forecast<\/a> 0.5% and doubling the previous reading of 0.4%.<\/p>\n Wednesday will bring US Durable Goods Orders (forecast: -0.5%, previous -5.2%), and investors will be focusing on US Gross Domestic Product (GDP) figures due on Thursday. Median market forecasts are anticipating a steady print at an annualized 2.1% for the second quarter.<\/p>\n The trading week will close out with US Personal Consumption Expenditure<\/a> (PCE) Price Index data on Friday. PCE, the Federal Reserve’s (Fed) preferred US inflation measure, is expected to hold steady at 0.2% for the month of August.<\/p>\n\n
Economic calendar: US figures in focus<\/h2>\n