U.S. Dollar Index gains ground as traders react to comments from U.S. Treasury Secretary Scott Bessent. He said that the trade war with China was unsustainable and that he expected the situation to de-escalate.
Currently, U.S. Dollar Index is trying to settle above the resistance at 98.80 – 99.00. In case this attempt is successful, U.S. Dollar Index will move towards the 50 MA at 99.70.
USD/CAD moved lower as traders focused on the rebound in the oil markets. USD/CAD remains stuck near the support at 1.3800 – 1.3820 as traders focus on a rebound in the oil markets.
If USD/CAD settles below the 1.3800 level, it will head towards the next support at 1.3720 – 1.3740.
USD/CAD 230425 4h Chart
