USD/CAD reversed its direction after climbing above 1.2650. WTI is rising more than 3%, closes in on $62.00. US Dollar Index clings to small daily gains below 91.00. The USD/CAD pair advanced to a daily high of 1.2659 in the early American session but lost its traction with rising crude oil prices providing a boost to the commodity-related loonie and dropped to 1.2604. As of writing, the pair was down 0.1% on the day at 1.2618. Oil rally helps CAD gather strength After spending the first half of the day trading in a relatively tight range around $60, the barrel of West Texas Intermediate (WTI) rose sharply despite the fact that the weekly EIA report showed a huge increase in US crude oil stocks. At the moment, WTI is up 3.88% at $61.72. On the other hand, the US Dollar Index is staying in the positive territory at 90.90 supported by a more-than-6% increase in the 10-year US Treasury bond yield and limiting USD/CAD’s losses. The data from the US showed on Wednesday that employment in the private sector increased by 117,000 in February, compared to analysts’ estimate of 177,000. Additionally, the ISM Services PMI edged lower to 55.3 in February and missed the market expectation of 58.7. Nevertheless, these disappointing figures failed to trigger a significant market reaction. Later in the session, the US Federal Reserve will release its Beige Book. 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 Chainlink Price Forecast: LINK encounters no barriers ahead of $40 FX Street 1 year USD/CAD reversed its direction after climbing above 1.2650. WTI is rising more than 3%, closes in on $62.00. US Dollar Index clings to small daily gains below 91.00. The USD/CAD pair advanced to a daily high of 1.2659 in the early American session but lost its traction with rising crude oil prices providing a boost to the commodity-related loonie and dropped to 1.2604. As of writing, the pair was down 0.1% on the day at 1.2618. Oil rally helps CAD gather strength After spending the first half of the day trading in a relatively tight range around $60, the barrel… 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.