23.06.2020 USD/CAD Daily Analysis

23.06.2020 USD/CAD Daily Analysis

USD/CAD struggles around eight-day low carry the previous days Weakness WTI strength, broad US dollar weakness, and mild risk-on exert downside pressure recently mixed headlines question the bears ahead of the US PMI data. USD/CAD extends the week-start losses while declining to 1.3510, down 0.08% on a day, amid the Asian session on Tuesday.WTI recently filled the gap below the early-March low surrounding $41.20, up 0.65% on a day at $40.85 now. The energy benchmark recently gained momentum amid sluggish inventories and rig counts as well as amid the global producers’ supply cut accord Also favoring the black gold’s rise could be the gradual reopening of the global economies after the coronavirus (COVID-19)-led lockdown.