USD/CAD climbs to multi-week top, closer to mid-1.3900s amid sustained USD buying

• Friday, the USD / CAD ladders for the third consecutive day in the middle of a largely stronger USD.
• The FED's fellowship break and American recession fears continue to stimulate the greenback.
• Moderate oil prices do not do much to support the Loonia before Canadian employment data.

The USD / CAD pair is seen relying on the recovery of this week of the lowest of the year, around mid -,3700, and winning a positive traction for the third successive day on Friday. The momentum increases prices in cash near the region by 1.3940-1.3945, more than three weeks during the Asian session, and is sponsored by a modest force of the US dollar (USD).

In fact, the USD (DXY) index, which follows the greenback against a basket of currencies, goes to a summit of almost a month following the feature break from the Federal Reserve (Fed) on Wednesday. Adding to this, the US-UK trade agreement helps relieve concerns that a total trade war could trigger an American recession and act more like a rear wind for the bar before the American-chinese pricing negotiations in Switzerland during the weekend.

Meanwhile, crude oil prices find it difficult to capitalize on the strong transition of the day before at a higher level of a week and to be negotiated with a slight negative bias. This undermines the Huard linked to basic products and gives an additional boost to the USD / CAD pair. The higher assembly could also be awarded to certain technical purchases after the escape of the day before via a commercial obstacle of several weeks to almost the number with a figure of 1,3,900.

However, hopes of a trade agreement in the United States could prevent traders from placing aggressive boussinet bets around the Canadian dollar (CAD) and to cap the benefits for the USD / CAD pair. In fact, US Secretary on Commerce Howard Lutnick said Washington would deploy dozens of commercial transactions in next month. However, cash prices seem to have formed a short -term background and stay on the right track to record solid weekly gains.

Merchants are now impatiently awaiting the publication of the monthly details of Canadian employment, which, as well as the oil prices dynamics, would lead the CAD. Apart from that, the speeches of a multitude of influential FOMC members should help produce short -term negotiation opportunities around the USD / CAD pair.