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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.
Market News
All News-
Brent crude on the march above $72.50 this morning
Oil prices rose on Friday and that saw both WTI and Brent crude rise to their best levels of the week. Brent crude for May delivery almost got above... -
Its not looking so hot now-check out the DAX as it falls towards 22,900
The higher opening across the European stock markets today has now given way to a marked relapse. Earlier the CAC 40 rose to 8,114. It has just now... -
EUR/GBP near session lows after UK Service sector PMI data outshines
The UK flash March PMI data has now hit the screens. As mentioned in the previous update, the markets were not expecting much in the way of any...
