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USD/CAD – Loonie Gets Shot in Arm from Rising Oil Prices

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Canadian dollar recovered from yesterday’s losses as it was boosted by the rising price of crude. The rumours of a possible cooperation between Russia and the OPEC have appreciated the price of oil even as Saudi Arabia will invest heavily in its production for the foreseeable future. With little economic indicators the USD was on the blackfoot as the recovery in the energy market boosted emerging and commodity markets as risk appetite grew. The USD/CAD dropped 1.303 percent in the last 24

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