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USD/CAD – Loonie in Tight Range Despite Oil Price Tumble

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Canadian dollar traded in a tight range versus the USD as the weak fundamentals in the U.S. cancelled out the drop in oil prices after doubts rose about the Doha crude price freeze. The USD did not get support from data releases after the U.S. Factory goods orders posted a loss of 1.7 percent. The Labor Market Conditions index posted a -2.1, with a silver lining as it improved slightly over last month’s -2.7. The U.S. dollar has not gained traction ever since the March Federal Open Market

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