USD/CAD closed the previous week with small losses. WTI touched its highest level since October 2018 near $68. Rising US Treasury bond yields help USD preserve its strength. Despite the broad-based USD strength, the USD/CAD pair closed the previous week in the negative territory as surging crude oil prices helped the commodity-related CAD stay resilient against the greenback. On Monday, the pair started to edge higher on the back of broad USD strength and was last seen gaining 0.25% on the day at 1.2690. Oil rally loses stream Last week, the OPEC+ decided to keep its oil output steady through April and provided a boost to crude oil prices. The barrel of West Texas Intermediate touched its highest level since October 2018 at $67.94 on Monday. However, with WTI losing its bullish momentum and turning flat on the day near $66.20, the USD’s market valuation started to impact USD/CAD’s movements.  Supported by rising US Treasury bond yields, the US Dollar Index is up 0.3% on the day at 92.25. In the meantime, Wall Street’s main indexes remain on track to start the day lower with the S&P 500 Futures falling more than 0.5% ahead of the opening bell. If safe-haven flows take control of financial markets in the second half of the day, the greenback could gather further strength and help USD/CAD climb above 1.2700. The only data featured in the US economic docket on Monday will be January Wholesale Inventories, which is likely to be ignored by market participants. Technical levels to watch for  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 Singapore: Domestic demand could improve in H2 2021 – UOB FX Street 1 year USD/CAD closed the previous week with small losses. WTI touched its highest level since October 2018 near $68. Rising US Treasury bond yields help USD preserve its strength. Despite the broad-based USD strength, the USD/CAD pair closed the previous week in the negative territory as surging crude oil prices helped the commodity-related CAD stay resilient against the greenback. On Monday, the pair started to edge higher on the back of broad USD strength and was last seen gaining 0.25% on the day at 1.2690. Oil rally loses stream Last week, the OPEC+ decided to keep its oil output steady through… 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.