crude oil woes

USD/CAD is Trading Flat in the Global Market Across the Day

USD/CAD Hourly (H1) Chart
USD/CAD Hourly (H1) Chart

USD/CAD: The pair is trading flat in the global market across the day, having failed to gain a breakout from CAD’s grip. While the pair tested the 1.38 handle broad-based softer crude oil price resulted in CAD gaining strength required to make a change in directional bias. Meanwhile, broad-based USD weakness prevented it from testing the 1.40 handle resulting in price mostly oscillating below the mid-1.39 handle. Traders now await US macro data and speech from Fed members for directional cues.

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