18.02 - USD/CAD regained positive traction
The USD/CAD pair traded with a mild positive bias through the early European session and was last seen trading near-daily tops, just above the 1.2700 round-figure mark. Following the previous day's rejection slide of around 45-pips from 50-day SMA, around mid-1.2700s, the pair managed to regain some positive traction for the third consecutive session on Thursday. Bulls might now be looking to build on this week's goodish rebound from the vicinity of the 1.2600 mark, though a combination of factors might keep a lid on any strong gains for the USD/CAD pair.
The US Treasury bond yields witnessed a modest pullback and held the US dollar bulls from placing aggressive bets. It is worth reporting that investors remain optimistic about a relatively faster US economic recovery from the pandemic, along with a possible acceleration in inflation pushed the yield on the benchmark 10-year bond to 1.33% on Wednesday, or the highest level in over a year.
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