Correlation between oil and CAD back in evidence 8 Dec
Oil prices rallying strongly in this session and USDCAD has another wobble lower to 1.2832 from 1.2870. CAD generally stronger as we wait on US NFPs and Canadian housing starts at 12.30 GMT but some sellers returning as I type.
I did highlight the 1.2830 demand bolded in my order board post.
- Housing start expectations 213-221k vs 228k prev
- Q3 capacity utilization 85% prev
