Fundamental Analysis, USD/CAD

USDCAD is Trading Flat as Neither Currency Has the Strength to Force a Rally

USD/CAD: The pair is trading flat as neither currency has the strength to force a rally with directional bias in its favor. However, gains in crude oil price led by the promise from OPEC and its allies to uphold their commitment helped CAD limit USD’s gains despite its firm strength in the global market and dragged the price below 1.3600 marks. Traders now await the US and Canadian macro data for short term profit opportunities.

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TAGS: Fundamental AnalysisOPEC USDCAD

Karthik Subramanian
June 20, 2020

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