US crude
The US crude oil price is 71.21 as I type. It is roughly midrange between yesterday's highs of 71.90 and lows of 70.51. On the daily chart price showed some rejection of the 71.90/72 level. Watch oil closely for its next move as it is currently helping to underpin Cad. A drop in oil will pull on Cad and there are a number of USD/CAD shorts they will be hurt of oil starts to fall. However, conversely, a surge in oil will boost CAD further.
