USD/CAD – Loonie Gains Despite Oil Price Retreat

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The USD continues to depreciate a day after U.S. Federal Reserve Chair Yellen deflated any possibility of an April interest rate hike and put in question any moves in the first half of 2015. The Canadian dollar appreciated to a 5 month high despite a drop in the price of oil after inventories continue to grow ahead of the Doha Oil Output Freeze Summit. Bank of Canada (BoC) Deputy Governor Lynn Patterson said earlier today that the Canadian economy will recover from the drop in oil prices in 2

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