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USD/CAD – Loonie Retreats After OECD Growth Forecast Cut

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The loonie gave back some of the gains from Wednesday as the price of energy remains volatile. The aftermath of the release of the dovish minutes from the FOMC and comments from Iran supporting the Organization of the Petroleum Exporting Countries (OPEC) and Russia production agreement put the USD/CAD below 1.37. The surge in oil prices boosted the loonie, but as the USD is recovering from the notes from the January meeting and Fed members comments, the chatter around the feasibility of the

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