Crude oil sell-off weighs on the loonie. 10-year US T-bond yield falls more than 1%. US Dollar Index stays in red below 96.50. The USD/CAD pair advanced to its highest level since March 8 at 1.3447 in the early NA session but failed to push higher with the commodity-sensitive loonie struggling to attract investors amid falling crude oil prices. At the moment, the pair is trading at 1.3430, gaining 0.05% on a daily basis. Escalating concerns over the negative impact of a recession in the U.S., which is believed to be signalled by the falling T-bond yields, and the dismal global economic outlook’s on demand for crude oil, the barrel of West Texas Intermediate extended its slide on Monday and slumped to a weekly low of $58.15 before recovering modestly, As of writing, the barrel of WTI was trading at $58.55, losing 0.5% on a daily basis. Meanwhile, today’s data from the U.S. showed that the Chicago Fed National Activity Index edged down to -0.29 in February and the Dallas Fed Manufacturing Index eased to 8.3 in March from 13.1. Pressured by the mixed data, the US Dollar Index struggled to build on last Friday’s gains and was last seen posting small daily losses a little below 96.50. Friday’s GDP report will be the only significant data scheduled to be released from Canada and will be watched closely by the market participants especially after the last monthly GDP reading showed a contraction of 0.1% in January. Key technical levels The pair could face the initial resistance at 1.3465 (Mar. 6 high) ahead of 1.3500 (psychological level) and 1.3530 (Dec. 20 high). On the downside, supports are located at 1.3400 (daily low), 1.3350 (Mar. 22 low) and 1.3290 (Mar. 13 low). 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 Tim Draper advises Argentina’s President Mauricio Macri to Legalize Bitcoin for a better Economy FX Street 4 years Crude oil sell-off weighs on the loonie. 10-year US T-bond yield falls more than 1%. US Dollar Index stays in red below 96.50. The USD/CAD pair advanced to its highest level since March 8 at 1.3447 in the early NA session but failed to push higher with the commodity-sensitive loonie struggling to attract investors amid falling crude oil prices. At the moment, the pair is trading at 1.3430, gaining 0.05% on a daily basis. Escalating concerns over the negative impact of a recession in the U.S., which is believed to be signalled by the falling T-bond yields, and the dismal… 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.