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EUR/CAD plunges as crude oil surges higher

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    No doubt, the focus of the FX market is centred on the outcome of the FOMC’s two-day meeting, due in less than one hour, which could have a major impact on the USD’s near term direction. But one other currency that has caught my attention today is the Candia dollar, which has rallied sharply. As oil is Canada’s number one export commodity, the CAD tends to follow crude prices very closely. As we reported the possibility yesterday, oil has surged some 6 per cent higher today. The rally in oil

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