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USD/CAD – Loonie Flying After Dovish FOMC and Oil Output Date Announced

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Canadian dollar got a double boost from market events on Wednesday. The price of oil surged after lower U.S. crude inventories were announced and the Organization of the Petroleum Exporting Countries (OPEC) announced alongside Russia the date for their oil output freeze in April. The USD got no support from the U.S. Federal Reserve Federal Open Market Committee (FOMC) statement. The remarks were dovish and were further driven home during Fed Chair Janet Yellen’s press conference. The USD

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