USD/CAD: The pair is trading positive, having regained hold above 1.45 handle as the crude oil price fell below $25 handle. However, USD’s weakness in the broad market keeps the pair below mid-1.45 handle for now. The escalation in Saudi-Russia price wars could weaken the crude oil price further, in which case USD is likely to reach as high as the 1.50 handle in the immediate future. For now, traders await Canadian data and US headlines for short term profit opportunities.
Please feel free to share your thoughts with us in the comments below.