The pair continued sliding down from quarterly highs and remains under 

 

 

some pressure during the second consecutive session. Even though bullish sentiment prevails around the dollar.


USD-CAD Analysis

The rebound in crude oil prices also had a significant impact on the currency tied to commodities. The bounce rose by 1.5% per day, thus fueling the demand for the currency.

Crude oil prices remained well supported and continued to recover from 13-month lows earlier this week, also as global risk sentiment improves. However, concerns about the impact of the coronavirus outbreak on the economy may become limiting factors for growth.