Share:
- USD/CAD attracts some buyers around 1.3230 on the modest USD rebound.
- A decline in oil prices weighs on the commodity-linked Loonie.
- The US Initial Jobless Claims figure for the third week of December fell short of expectations.
- Traders await the December’s Chicago Purchasing Managers’ Index (PMI).
The USD/CAD pair recovers some lost ground during the Asian session on Friday. The rebound of the pair is supported by the modest gains of the US dollar (USD) and a decline in oil prices. However, the bearish outlook of USD/CAD remains intact as the pair holds below the key 100-day Exponential Moving Average (EMA) on the daily chart. USD/CAD currently trades near 1.3230, up 0.02% on the day.
Oil prices continue to drop on Friday due to concerns about supply…
