Oil Rumours Helping the CAD: A Look at OIL and USD/CAD

Oil Rumours Helping the CAD: A Look at OIL and USD/CAD

12 April 2016, 14:49
Francis Dogbe
0
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With another quiet one in terms of economic data released, we stay focused on the impact of the impending weekend meetings between Oil producing nations in Doha. With Oil sitting just above the important, psychological $40 per barrel level, it’s still the 200 SMA that is capping price. Price really went nowhere yesterday in thin, data-less trade. I’m a little surprised by this, and still expect some headline driven volatility as we head into the weekend’s meetings said to focus on the production freeze and $50 per barrel sustainable price target for producers. Now we’re here, price has to poke its head above the line, doesn’t ... READ MORE
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