USD/CAD: down to key support on oil investories

By FXStreet FXStreet (Guatemala) – USD/CAD has felt some supply with oil jumping 4% on inventories and is trading at the lowest point since 18th December. USD/CAD has printed a high of 1.3944 and a low of 1.3856 while spot oscillates around 1.3875 at time of writing.

“February West Texas Intermediate oil futures on the New York Mercantile Exchange spiked more than 4% to a high of $37.73 a barrel. Despite recent recovery, WTI futures were down by over 30% so far this year”, noted Ani Salama is an Economist specialized in financial markets and statistics analysis and she is the head of the FXStreet American team.

The subject of oil for 2016 was discussed when FXStreet hosted a special event about what 2016 might hold for the Forex traders. The panelists were Ashraf Laidi, Boris Schlossberg, Adam Button and Valeria Bednarik. Today, we want to share with you the recording of the whole show. Watch now and look out for commentary around de-pegging pertro-dollars, oil prices and the black swan event.

USD/CAD price action and levels

In respect of expected price action until 2016, analysts at Scotiabank explained that Absent a push higher today to retest the 1.40 area, spot may ease …read more

Source:: FX Street