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USD/CAD still tracking the oil markets

On Monday the USD/CAD fell to 1.3629. The rebound that has followed has been assisted by the further falls in the oil price. Yesterday, that dynamic led the USD/CAD to a high at 1.37815 and coincided exactly with the lows seen in Brent and WTI crude at the same time, in case anyone wants to question the validity of the correlation. The USD/CAD closed in the US last night at 1.3792, which is pretty much where it is trading as I write. The range seen so far today has been covered by 1.3782 to 1.3807. There is not a whole lot more to add at this stage, other than to say, of you are involved in the this one, then keep a close eye on the oil price too. 
 

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