USD/CAD falls with the recovery of the Oil prices

FXStreet — After the day-to-day high in the area of the 1,3710 was formed, the USD/CAD in the direction of the current in the area of 1,3670/75.

The recent downward due to the movement of the pair, probably due to the increasingly positive sentiment on the oil markets as WTI crude oil has to 46,50 a slight gain, as optimism increases in relation to an Expansion of OPEC production cuts through June. Rising Oil prices support demand for the commodity currencies-the Loonie, which is weighing on the Pair.

WTI rises for 46,50 $, API report in focus

The Couple falls in spite of the broad-based buying interest in the Greenback. The US Dollar Index can build on his win of the night and 99,00 rise, as expectations for a Fed rate hike in June is on the increase. This provides the Couple an immediate support.

U.S. Dollar rises to day’s high on 99,00

Today there is no important economic data, and wait for the dealer to the release of the weekly API U.S. crude oil inventories. Also of interest are the speeches of the FOMC members will be E. Rosengren and R. Kaplan.

Important Levels

Supports lie at 1,3640, 1.3600 for and 1,3575/70. On the other hand, about 1,3700 Resistances at 1,3730/35 (yesterday’s High), 1,3750 and 1,3800.

** FXStreet News Editorial, FXStreet**

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