Canadian dollar losses momentum amid a retracement in crude oil prices from monthly highs. US dollar strengthens modestly against commodity and emerging market currencies. The USD/CAD pair bottomed at the beginning of the US session at 1.3249 and then bounced to the upside, rising more than 50 pips from the lows. It trimmed losses and rose to 1.3316. The area around 1.3315/20 (20-hour moving average) capped the recovery of the US dollar. As of writing, USD/CAD was trading at 1.3305, down 25 pips for the day but far from the lows. The rebound took place amid a recovery of the US dollar across the board and also on the back of a retreat in crude oil prices. The WTI barrel reached earlier today at $59.55 the highest level since mid-November but then reversed erasing all gains. It was trading at $58.80, down 0.55% for the day. Despite the moves in the USD/CAD pair, volatility remains low in the market. Traders await the FOMC statement and the updated projections, due tomorrow. Recently the WSJ reported that US and Chinese negotiators are planning new rounds of talks starting next week. Trade Representative Lighthizer and Treasury Secretary Mnuchin are expected to meet Chinese Vice Premier Liu He in Beijing next week. 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 Gold Technical Analysis: Yellow Metal heading towards $1,350.00/oz FX Street 4 years Canadian dollar losses momentum amid a retracement in crude oil prices from monthly highs. US dollar strengthens modestly against commodity and emerging market currencies. The USD/CAD pair bottomed at the beginning of the US session at 1.3249 and then bounced to the upside, rising more than 50 pips from the lows. It trimmed losses and rose to 1.3316. The area around 1.3315/20 (20-hour moving average) capped the recovery of the US dollar. As of writing, USD/CAD was trading at 1.3305, down 25 pips for the day but far from the lows. The rebound took place amid… 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.
