USDCAD takes a ride as oil whips around after inventory data
Inventories soar…
Well there was a weaker currency other than the USD over a few minutes at least. The oil inventory data continue to show no relief in site and that the USDCAD thinking twice about heading lower. The price of crude oil moved back below the $30 per barrel level. The low for the day is around $29.40. But.. inventories…what inventories. The oil price is now trading at $30.82. Go figure. YIKES!