USD/CAD looks to close the day modestly higher. US Dollar Index is rising for the second straight day on Thursday. WTI rebounds to $39, helping CAD limit its losses. The USD/CAD pair dropped toward 1.3600 during the European session but staged a decisive recovery in the second half of the day boosted by the broad-based USD strength. However, after climbing to 1.3670, rising crude oil prices helped the commodity-loonie stay resilient against the greenback. As of writing, the pair was up 0.1% on the day at 1.3651. DXY extends rebound into second straight day Heightened worries over the growing number of COVID-19 cases in the US provided a boost to the safe-haven USD on Thursday. The US Dollar Index (DXY), which gained 0.55% on Wednesday, advanced to 97.60 before going into a consolidation phase in the late American session. At the moment, the index is up 0.22% on the day at 97.42. Meanwhile, the data published by the US Census Bureau showed that Durable Goods Orders increased by 15.8% in May. Furthermore, the Bureau of Economic Analysis in its third estimate left the first-quarter GDP reading unchanged at -5% as expected. On the other hand, following a two-day slump, the barrel of West Texas Intermediate rose to $39 on Thursday and capped USD/CAD’s gains. The WTI was last seen trading at $38.80, gaining nearly 2% on a daily basis. There won’t be any macroeconomic data releases featured in the Canadian economic docket and investors will keep a close eye on Personal Spending and Personal Income figures from the US. 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 GBP/JPY consolidating around 133.00 supported by Brexit deal hopes FX Street 2 years USD/CAD looks to close the day modestly higher. US Dollar Index is rising for the second straight day on Thursday. WTI rebounds to $39, helping CAD limit its losses. The USD/CAD pair dropped toward 1.3600 during the European session but staged a decisive recovery in the second half of the day boosted by the broad-based USD strength. However, after climbing to 1.3670, rising crude oil prices helped the commodity-loonie stay resilient against the greenback. As of writing, the pair was up 0.1% on the day at 1.3651. DXY extends rebound into second straight day Heightened worries over the growing number… 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.