USD/CAD records slight gains around 1.2700 -

USD/CAD records slight gains around 1.2700

February 18, 2021

The USD/CAD pair recorded slight gains in early European trading and was last seen trading close to daily highs, just above the 1.2700.

Following Wednesday’s rejection slide of almost 45 pips, the pair figured out how to recover some positive traction for the third successive session today. Currently, bulls might be looking to build on the current week’s rebound from the area of 1.26.

On the US economic data front, the pair is expecting the release of Philly Fed Manufacturing Index, the usual Initial Weekly Jobless Claims, and housing market data. Also, the US bond market will continue to be a key spot to watch. It might produce some trading opportunities.