USD/CAD rose to its highest level in more than a month on Tuesday. US Dollar Index is consolidating Monday’s gains above 93.50. WTI is retracing Monday’s losses, trades around $40. The USD/CAD extended its rally during the first half of the day on Tuesday and touched its highest level in more than a week at 1.3346. However, the pair lost its bullish momentum ahead of the American session and was last seen posting small daily losses at 1.3297. WTI rebound supports CAD Crude oil prices suffered heavy losses on Monday amid demand concerns and the barrel of West Texas Intermediate lost more than 3%. With the market mood improving modestly, the WTI staged a rebound and was last seen gaining more than 1% on the day at $40.05, helping the commodity-sensitive loonie stay strong against its rivals. On the other hand, the greenback seems to be having a difficult time preserving its strength as markets wait for FOMC Chairman Jerome Powell and US Treasury Secretary Mnuchin to testify before the House Financial Services Committee. Investors don’t expect Powell to deliver any surprising remarks on the policy outlook and will be looking for fresh insights into the next coronavirus aid bill. A negative reaction in Wall Street’s main indexes could help the DXY regain its traction. Meanwhile, S&P 500 futures are posting modest gains on the day, pointing out to a moderately higher opening in US stocks. . The US Dollar Index, which gained 0.6% on Monday, is currently virtually unchanged on a daily basis at 93.55. 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 Ireland’s Coveney: There is growing sense that perhaps UK doesn’t want a deal FX Street 3 years USD/CAD rose to its highest level in more than a month on Tuesday. US Dollar Index is consolidating Monday's gains above 93.50. WTI is retracing Monday's losses, trades around $40. The USD/CAD extended its rally during the first half of the day on Tuesday and touched its highest level in more than a week at 1.3346. However, the pair lost its bullish momentum ahead of the American session and was last seen posting small daily losses at 1.3297. WTI rebound supports CAD Crude oil prices suffered heavy losses on Monday amid demand concerns and the barrel of West Texas Intermediate lost… 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.
