A choppy session for CAD, recent highs to hold for now?

A choppy session for CAD, recent highs to hold for now?

22 March 2016, 12:36
Vasilii Apostolidi
0
18

Cable is not the only major USD rate suffering a volatile session this morning, with USD/CAD now some 70 cents off the highs after a sharp rally to 1.3135-40, and the pull-back equally swift.  Oil prices have been pretty steady throughout the tragic events dominating the markets this morning, but USD/CAD looks to be basing out in the mid 1.3000’s, ready for another potential move higher.   The turn in the USD index has had more of an influence than Oil in recent sessions, perhaps pre-empting the turn WTI/Brent a little higher up.  WTI is currently in the mid $41.0’s, but with pundits calling a top at $45.0 or so, CAD risk-reward at these levels shifts significantly. 

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