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USD/CAD – Loonie Lower After Risk Sell Off and Weak Commodities

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Canadian dollar depreciated on Thursday as investors fled to safe havens following concerns about global growth. The USD gained versus the CAD as support from oil prices was not forthcoming after Iraqi oil exports rose putting a big question mark ahead of the Doha output freeze summit. A patient Fed, the fear of Brexit and ineffective interventions from the Bank of Japan and the European Central Bank (ECB) hurt emerging and commodity markets triggering sell offs against the USD. The

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