USD/CAD pushes to fresh session highs as prices for light crude lose almost $3. That's helped to push USD/CAD higher, but it was also due for some retracement since reaching new yearly lows last week, said CIBC's Don Mikolich. He sees USD/CAD moving up to the low 0.98 to 0.9850 levels in a week that's light on data releases. USD/CAD buyers have been "spoiled" at current levels, while corporates are waiting to see if they can get better prices for USD. USD/CAD at 0.9750 vs 0.9717 late Friday, according to CQG.
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