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USD/CAD – Loonie Rises as US Data Takes Down USD

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Disappointing Data Questions Fed Decision to Hike as USD Tumbles The loonie is rising today thanks in no small part to two factors. The softer ISM Non-manufacturing data has slowed down and missed expectations at 53.5. The price of oil continues to rise as Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC are teasing some sort of agreement to curb production. Higher energy prices and a weaker U.S. economy has given the loonie a foothold as it broke through the 1.38 price

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