USDCAD is still continuing its upward momentum

Speaking on Tuesday, a number of hardline Fed members hinted that the economy may be weaker as a result of the tightening of financial conditions since July, which has seen a rise in 10-year Treasury yields of more than 100 basis points. However, it will take more time to determine if this effect is sustained.

"Inflation has decreased somewhat, but it is still too high," Dallas Fed President Lorie Logan stated at a Kansas City conference. The fundamental query, in my opinion, is whether the current fiscal constraints are stringent enough to quickly and sustainably raise inflation to 2%.

In a speech in St. Louis, Fed board of governors member Christopher Waller referred to the rate move as a “shock” to the bond market, while Michelle Bowman, another