- USD/CAD picks up bids to print the first daily gains in four, bounces off weekly low.
- Sluggish markets, rebound in US Treasury yields allow US Dollar to pare recent losses.
- WTI crude oil eases from one-week high as downbeat China data, higher interest rates probe oil bulls.
USD/CAD extends recovery from weekly low to refresh intraday high near 1.3570 during the first positive day in four amid early Thursday. In doing so, the Loonie pair takes clues from the latest rebound in the US Dollar, as well as a pullback in Canada’s main export item, WTI crude oil.
US Dollar Index (DXY) consolidates recent losses around 103.80 while bouncing off one-month-old support, as well as the six-month low, as traders turn cautious ahead of multiple central bank announcements.
On the other hand, WTI crude oil snaps a four-day uptrend as it retreats from the weekly top to…
