Risk-off mood boosts demand for the greenback. Oil trades below $64 following yesterday’s drop. Coming up: Retail sales data from the U.S. and Canada. The USD/CAD dropped below the 1.33 mark on Wednesday before staging a strong recovery and closing the day virtually unchanged near mid-1.33s. With the risk-off flows starting to dominate the FX markets, once again, the greenback gathered strength and lifted the pair to a fresh daily high above the 1.3370 mark. At the moment, the pair is up 0.22% on a daily basis at 1.3372. Today’s disappointing Manufacturing PMI readings from Germany and the euro area revived concerns over the economic slowdown in the euro area becoming more severe and lasting longer than expected to trigger a flight-to-safety wave, which the greenback has been capitalizing on since the start of the year. At the moment, the US Dollar Index is up 0.3% on a daily basis at 97.30, reflecting the broad USD strength. Later in the day, retail sales from Canada and the United States will be looked upon for fresh impetus. Earlier this week, the Bank of Canada’s Business Outlook Survey pointed out to a weakening business sentiment and if today’s data surprise to the downside, we could see the loonie facing a renewed selling pressure. Additionally, weekly jobless claims data and preliminary Markit Manufacturing & Services PMI data from the U.S. and the ADP Employment report from Canada will be featured in the economic calendar as well. Meanwhile, after closing the day in the negative territory amid the higher-than-expected in the U.S. crude oil inventories, the barrel of West Texas Intermediate is trading flat on the day near $63.70 today, making it tough for the commodity-sensitive loonie to grab investors’ attention. Technical levels to consider FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Litecoin price analysis: LTC/USD sits comfortably above $80.00 FX Street 4 years Risk-off mood boosts demand for the greenback. Oil trades below $64 following yesterday's drop. Coming up: Retail sales data from the U.S. and Canada. The USD/CAD dropped below the 1.33 mark on Wednesday before staging a strong recovery and closing the day virtually unchanged near mid-1.33s. With the risk-off flows starting to dominate the FX markets, once again, the greenback gathered strength and lifted the pair to a fresh daily high above the 1.3370 mark. At the moment, the pair is up 0.22% on a daily basis at 1.3372. Today's disappointing Manufacturing PMI readings from Germany and the euro area… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.