At the moment it looks like Adam’s got it spot on as we had a reactionary fall in Brent to 74.33 but it’s since bounced back to 75.35.
It’s always a tough one with oil as it can rip your face off in seconds so although the initial reaction is now fairly muted the presser may give some details that will drive prices from here.
Brent crude oil h4 chart 27 11 2014
WTI mirroring the Brent move, dropping to 70.85 before running back to 71.41.
USD/CAD has had a little 45 pip run up to 1.2189. There’s resistance at yesterday’s high of 1.1296 and no doubt at 1.1300, before the channel top at 1.1320
USD/CAD m15 chart 27 11 2014
