Despite early attempts to head lower USDCAD has now turned around and posted new session highs as oil prices continue to plunge
In my order board post I noted bids nearby at 1.2560 when the pair was on session lows and they held well. Now the offers into 1.2650 have been equally resilient having taken out those at 1.2630 ahead of last week's highs
Brent crude has been down to $58.25 from $59.80 but rallying to $58.77 as I type further adding to the USDCAD cap for the moment
Canadian Ivey PMI out at 14.00 GMT with the BOC business outlook survey to follow at 14.30 GMT. while next week sees the BOC announcing their latest interest rate decision
Along with the wobbling oil price it's all enough to keep the loonie in focus and potentially undermined still
