USD/CAD gains ground as oil markets pull back.
U.S. Dollar Index is losing some ground as traders react to Philadelphia Fed Manufacturing Index report. The report indicated that Philadelphia Fed Manufacturing Index remained unchanged at -4.0, compared to analyst consensus of -1.
USD/CAD continues its attempts to settle above the resistance at 1.3725 – 1.3740 amid strong pullback in the oil markets.
A successful test of this level will push USD/CAD towards the next resistance at 1.3845 – 1.3860.
