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Canadian dollar holding steady despite oil drop
On any days with with equities 0.5% lower and oil down 4%, it's a safe bet that the Canadian dollar in the red. That's also true today but only barely.
USD/CAD is up just 6 pips to 1.3333. after rising to 1.3401 and then giving it all back.
The divergence between oil and the loonie is unusual but it's been a theme in the past two weeks. Crude is at the lowest since October 3 but the loonie isn't far off from the best levels since Sept 16.
That speaks to a market that's strug... Read More
Posted: Nov 17 2022, 19:34
Author Name: forexlive
Views: 110262