The US dollar against the Canadian dollar has continued to decline, with safe-haven demand weakening

The US dollar against the Canadian dollar has fallen for the third consecutive trading day, trading around 1.397. Diplomatic mediation in the Middle East has eased pressure on the oil market, reducing safe-haven demand and putting pressure on the dollar.

Market expectations for a Federal Reserve interest rate hike in December have cooled, with traders estimating the probability of a 25 basis point hike dropping to 75%. The initial value of the US GDP grew by 3.4% year-on-year, and the core personal consumption expenditure price index rose by 3.1% year-on-year.