For the second day in a row, the USD/CAD pair moved in a bearish correction to the 1.3320 support at the time of writing the analysis from the 1.3402 resistance level, as investors continued to take risk currencies and crude oil prices held stronger gains.
Germany has inaugurated its biggest wind farm in the Baltic Sea. The official start of Arkona project operations comes as offshore wind utilization in the country has seen roughly 10 years of ups and downs.
For the second day in a row, the USD/CAD pair is turning up to the resistance level at 1.3402 at the time of writing, after a recent bearish correction that pushed the pair towards the support level of 1.3296, as the recent global oil price rebound boosted the gains of the Canadian dollar.
The European Commission has signed a multimillion-euro grant that will allow a new gas pipeline between Denmark and Poland to proceed. The project is seen as Warsaw's answer to the Russian-German Nord Stream 2.
The price of crude oil is up a whopping 38 percent year-to-date as fading fears over slowing global growth and OPEC supply cuts boosted the commodity higher. Although, recent gains could be jeopardized if sentiment sours again.