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USD/CAD Loonie Weaker After Oil Plummets Below $31

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The USD advanced 0.242 versus the CAD in the past 24 hours. The fall in the price of oil, which tumbled 4.323 dragged the loonie lower. The Canadian economy has faced tougher challenges as the price of oil has been on a freefall after the slowdown in emerging markets has reduced the global energy demand at the same time that oil producers continue to pump at record levels. The USD/CAD had a volatile Monday trading session with 1.282 percent gap between the high (1.4246) and lows (1.4065). The

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