USD/CAD gains are restrained by increasing Oil prices in the mid-1.3300s.

 

Although it doesn’t follow through, USD/CAD rebounds off the weekly low it reached earlier on Friday. The demand for the USD is rekindled, and the major gains some support from an increase in US bond rates. The Loonie is supported by a modest increase in oil prices, which also restrains any significant rebound.

The USD/CAD pair experiences some purchasing in the 1.3315–1.3320 range and makes a little comeback from a new weekly low reached earlier this Friday. While lacking bullish conviction, USD/CAD maintains its gains at the 1.3350 area through the early North American session and seems to have ended a three-day losing skid for the time being.

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