USD/CAD is staging a rebound in the early American session. US Dollar Index edges higher ahead of Wall Street’s opening bell. WTI clings to strong daily gains above $48 ahead of API data. The USD/CAD pair dropped to 1.2730 area during the European trading hours but reversed its direction in the last hour. As of writing, the pair was virtually unchanged on the day at 1.2774. USD/CAD turns north on DXY recovery A negative shift in market sentiment seems to be helping the greenback gather strength in the early American session. At the moment, the S&P 500 Futures were down 0.42% on the day and the US Dollar Index (DXY), which dropped to a daily low of 89.59, was posting small losses at 89.79. Meanwhile, the data from Canada showed that prices for products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), fell 0.6% on a monthly basis in November and put additional weight on the CAD’s shoulders. On the other hand, crude oil prices continue to push higher and help the commodity-related loonie limit its losses for the time being. Ahead of the American Petroleum Institue’s (API) Weekly Crude Oil Stock data, the barrel of West Texas Intermediate is up 1.76% on the day at $48.15. Later in the session, the ISM will release its US Manufacturing PMI report for December. Moreover, investors will keep a close eye on early exit polls of the runoff election in Georgia, which will determine if Democrats will be able to gain the majority in the US senate. 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 Russia reportedly agrees to keep oil output steady in February FX Street 1 year USD/CAD is staging a rebound in the early American session. US Dollar Index edges higher ahead of Wall Street's opening bell. WTI clings to strong daily gains above $48 ahead of API data. The USD/CAD pair dropped to 1.2730 area during the European trading hours but reversed its direction in the last hour. As of writing, the pair was virtually unchanged on the day at 1.2774. USD/CAD turns north on DXY recovery A negative shift in market sentiment seems to be helping the greenback gather strength in the early American session. At the moment, the S&P 500 Futures were down… 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.