US dollar stabilized today amid a cautious stability in global markets due to global recession signs.

German economy shrank in the second quarter, while the Chancellery stated that the Ministry of Finance is considering abandoning a balanced budget in times of recession, which means a spending boost, according to the Der Spiegel magazine.

US and German treasuries bonds continued to draw by investors as safe havens to shelter from recession concerns and stock markets losses, despite the rise of their yields today

Bank of America Merrill Lynch revealed that global bond funds have received large liquidity flows this week, while the stocks funds had suffered from withdrawals.

By 17:14 GMT, dollar stabilized at 98 points, with a high of 98.2 points and a low of 97.9.

Canadian dollar rose against greenback as the global markets returned to calm and investors' risk appetite rebounded on assets such as equities and currencies and shifting away from safe havens such as bonds.

Market's concerns over a near recession for the global economy mounted, especially after the US bonds yield curve inverted, and the German bonds falling to a negative range.

In addition to the impact of the ongoing US-China trade war, despite Trump's decision to delay the tariffs increase on several Chinese imports until mid-December.

While the global central banks are heading for more interest rates cuts to face these fears and to attract capital and stimulate their economies.

By 16:30 GMT, CAD/USD rose by 0.2% to $0.7528, with a high of $0.7538 and a low of $0.75.

The US consumer sentiment fell to its lowest level this year for August due to the US-China trade war escalation.

The University of Michigan consumer confidence index fell to 92.1 in August from 98.4 in July.

Baker Hughes released today the number of US oil rigs for this week, which rose by 6 to a total of 770.

While the number of natural gas rigs fell by 4 to 165, and the total oil and gas rigs rose by 1 to 935.