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USD/CAD – Loonie Lower on Oil Uncertainty

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Canadian dollar retraced on Thursday as energy prices traded lower ahead of the Doha oil output freeze summit over the weekend. Yesterday the Bank of Canada (BoC) held rates unchanged at 0.50 percent and issued words of caution. The BoC did not make any dovish comments, and in general outlined the risk factors facing the Canadian economy. The central bank will stand on the sidelines until the effects of the federal budget announced last month starts to have economic impact. Canada’s new

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