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USD/CAD Loonie Falls Ahead of FOMC Minutes After Oil Drop

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The USD/CAD was trading above parity two years ago to the day. The monetary policy rate divergence and the drop in the price of commodities have depreciated the CAD to current levels. The price of oil continues to be driven by a supply glut as producers are hitting record levels of production, with a shrinking demand for the black stuff. Oil is encountering some support from political conflict as Iran and Saudi Arabia engage in a war of diplomacy, but overall the market continues to be more

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