This is interesting. Unless a major sell-off happens on the oil market, this does not make sense and the USD will weaken with interest in a couple of hours.
Even though both are major producers of energy resources, CAD is much more influenced by high oil prices. Hence, USDCAD should go down not up.
Even though both are major producers of energy resources, CAD is much more influenced by high oil prices. Hence, USDCAD should go down not up.
Note
On the other hand, if the price of oil bounces from 90, USD will rally even faster.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.