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USD/CAD Loonie Surges After Oil Recovers on Demand Optimism

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Central bank rhetoric and cold weather boosted crude prices benefiting the CAD The loonie will finish the week of January 25 on a strong note versus major pairs. Boosted by the recovery of oil prices and stronger than expected economic indicators the Canadian currency advanced close to 1 percent versus the U.S. dollar. The USD/CAD depreciated 0.912 in the last 24 hours and close to the end of trading is at 1.4152. The Loonie continued its rebound for a second day in a row following the Bank of

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