• USD/CAD loses ground due to higher WTI price amid escalating supply fears.
• Israel Defense Forces (IDF) intercepted around 30 "projectiles" that crossed from Lebanon early Monday.
• CME FedWatch Tool suggests a 46.5% chance of a 50-basis point Fed-rate cut in September, against 74.0% a week ago.

USD/CAD continues to lose ground for the seventh consecutive session, trading around 1.3730 during the early hours on Monday. This downside is attributed to the improved Canadian Dollar (CAD) following the higher crude Oil prices, given the fact that Canada is the biggest crude exporter to the United States (US).

West Texas Intermediate (WTI) Oil price extends its winning streak for the fourth successive day, trading $76.20 per barrel at the time of writing. Crude Oil prices appreciate due to increasing supply concerns amid geopolitical tensions in the Middle East.

ABC News reported that the Israel Defense Forces (IDF) intercepted around 30 "projectiles" crossing from Lebanon into northern Israel early Monday. The IDF stated that some projectiles landed in open areas, and no injuries were reported.

On Saturday, the Israeli incursion into Gaza escalated with an airstrike targeting a school compound, leading to at least 90 fatalities, according to the Gaza Civil Emergency Service. Israel has contested this casualty figure, labeling it as exaggerated. Meanwhile, Hamas has expressed uncertainty about engaging in new ceasefire negotiations on Sunday, as reported by Reuters.