USD/CAD extends recovery from multi-month lows. Firmer T-yields-led USD demand and WTI weakness underpin. Focus on BOC’s Business Outlook survey, stimulus updates. USD/CAD is off the five-day highs of 1.2764, although remains strongly bid amid unabated US dollar’s demand and the weakness in oil prices. The US dollar receives doubt booster shots amid the ongoing surge in the US Treasury yields, as the optimism over additional stimulus coming from Biden’s presidency pushes inflation expectations higher. Further, the safe-haven greenback also cheers the tepid risk sentiment, induced by the renewed tensions between the US and China over America’s latest move to improve ties with Taiwan. On the CAD-side of the story, a 1% drop in WTI prices appears to be boding ill for the resource-linked Loonie, in turn collaborating with the upside in USD/CAD. The black gold tripped this Monday amid renewed coronavirus concerns, as the covid cases globally continue growing. Attention now turns towards the developments around the US stimulus and the Bank of Canada (BOC) Business Outlook Survey for fresh trading impetus. Also, of note will be the speeches by Fed’s Bostic and Kaplan. USD/CAD technical levels 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 Forex Today: Dollar extends gains amid rising yields, coronavirus developments eyed FX Street 11 months USD/CAD extends recovery from multi-month lows. Firmer T-yields-led USD demand and WTI weakness underpin. Focus on BOC’s Business Outlook survey, stimulus updates. USD/CAD is off the five-day highs of 1.2764, although remains strongly bid amid unabated US dollar’s demand and the weakness in oil prices. The US dollar receives doubt booster shots amid the ongoing surge in the US Treasury yields, as the optimism over additional stimulus coming from Biden’s presidency pushes inflation expectations higher. Further, the safe-haven greenback also cheers the tepid risk sentiment, induced by the renewed tensions between the US and China over America’s latest move to improve… Top 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.
