Crude oil higher helps CAD despite high build in inventories
The USDCAD’s up and down trading continues today. The pair first ventured lower and tested lower trend line support (we will ignore the break on the BOC decision yesterday) and then rallied toward the Asian Pacific highs, before moving back down in the North American session. Crude oil futures for October delivery currently trading at $45.70 up 3.51%. This despite a larger than expected build inventories. This is helping to contribute to the softer USDCAD (higher CAD).
Forex technical analysis: USDCAD falls with oils rise, but tests support trend line
