Buckle up for what could be a volatile day for the loonie. Canada’s unit starts the day under C$1.25, a three-week best. Instability in the Mideast saw oil scale $50, giving the loonie a solid tailwind. Don’t lose sight U.S. importers: Although the greenback has weakened off six-year highs above C$1.28, it remains far above the C$1.16 level where it started the year. Therefore, the current market offers good levels to lock in to reap reasonable costs.
The material has been provided by InstaForex Company – www.instaforex.com