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USD/CAD – Loonie Flies High After OPEC and Russia Meeting Details Emerge

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Canadian dollar continues to be tied to the fate of energy prices. Oil got a boost from Venezuela and Russia’s oil ministers about a possible mid-March meeting to further discuss the output freeze. Oil prices rose and in tandem the Canadian dollar followed. The Bank of Canada (BoC) refrained from cutting its benchmark rate in January and the central bank along with the rest of the market is awaiting the release of the first Liberal Federal budget from the Trudeau government. The Liberal

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