USD/CAD the Expansion of the recovery movement, and 1.37 is in sight

FXStreet – The USD/CAD was able to do his initial recovery to build and so was the current day’s high-in the vicinity of the 1,3685 formed.

The emergence of buying interest against the USD is associated with the profit-taking in EUR/USD, which is probably the most important factor for the recovery of the pair of Friday losses. Against the Background of the good US NFP on Friday, the speculation of a June rate increase, and this supported the Greenback demand, so that the US Dollar Index for the day could rise high in the vicinity of the in 98.75/80.

The Slight Retracement in the US Treasury bond yields, hand-in-hand suggests a slight deterioration in the risk appetite, the safe haven of the Greenback is rising versus the canadian counterpart.

Add to that the strong correction in the WTI crude oil prices, so that most of the initial gains was mined in the vicinity of the 46,00, what currencies of the commodity as the Loonie charged.

Today there is no important economic data, but the St. Louis Fed President James Bullard speech and the dynamics of crude oil prices can deliver on Monday more pulses.

Important Levels

On the 1,3700, the next Resistances lie at 1,3725 and 1,3750. On the other hand, supports are located at 1,3650/45, 1.3600 for and 1,3575/70.

** FXStreet News Editorial, FXStreet**

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