The USD/CAD pair continued gaining some positive traction through the mid-European session and is currently placed near session tops, around the 1.2760-65 region.
The pair stalled its recent corrective slide and has now snapped four consecutive days of losing streak amid a fresh wave of US Dollar buying interest. A modest uptick in the US Treasury bond yields helped reignite the greenback rally and is turning out to be one of the key factors driving the pair higher.
Adding to this, initial signs of some profit-taking around oil markets, with WTI crude oil eroding majority of its early gains to fresh two-and-a-half year highs, further undermined the commodity-linked currency - Loonie and remained supportive of the pair's strong bid tone.
Later during the NY trading session, scheduled speeches by the BOC Governor Stephen Poloz and the Fed Chair Janet Yellen might trigger a fresh bout of volatility in the major. On the economic data front, the release of JOLTS Job Openings data from the US would be looked upon for some trading impetus.
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