FX Action: USD-CAD printed a three-session high
FX Action: USD-CAD printed a three-session high earlier, at 1.2827, extending rebound gains from the three-week low that was seen last week at 1.2719. The disappointing April employment out of Canada, in data released on Friday, which weakened BoC tightening expectations, helped give the pair a prop, though renewed buoyance in oil prices should give the Canadian dollar an offsetting prop, if sustained. Crude prices are presently up 0.4% on the in the WTI benchmark futures market, at $71.38, which is just little 43 cents from the 42-month high that was posted last week. Resistance is at 1.2836-40. The Canadian calendar is quiet today ahead of a flurry of releases from tomorrow through to the end of the week, culminating in April CPI data on Friday.