Skip to main content

USD/CAD on the rebound again as Oil falls once more

The price action in the USD/CAD, which was covered here yesterday, noted the push to a new interim high at 1.3780. However, despite oil price not really making any headway, that move was followed by a drop back towards 1.3725 ahead of the European close. The USD/CAD did later close in the US at 1.3745. It traded lower earlier this morning, falling to as low as 1.3711, but since then it has been on the rebound once more, as oil prices take another hit lower. It is also important to note; that tomorrow is not just about US jobs, because we also have the latest Canadian monthly jobs report due out at the same time (12.30pm GMT). Uncertainty over what that might reveal is a factor to consider too. Nevertheless, the USD/CAD is pressing higher again, currently trading close to session highs at 1.3774

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!