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Oil sinks, CAD drowns; FOMC key to USD fortunes

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 11, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    After a brief hiatus the greenback has found form over the last 24-hours or so. Crude oil sunk to fresh 6-year lows overnight and depending who you speak to its OPEC’s fault, or a stronger US dollar ahead of next week’s rates decision. Whatever the case, there’s little doubt the US interest rate decision next week is crucial for the greenback. Staying with the oil thematic, we discussed earlier this week its correlation with the Canadian Dollar. The CAD’s been stung again and the USDCAD pair

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