Oil prices have continued to rally in this session 26 May
Yesterday's OPEC/non-OPEC decision to extend oil output cut deal by 9 months left oil prices on the back foot given that was the very least already factored in.
Since then though short traders have been happy to book some profit and longs/bulls seizing opportunity in the dip.
This morning WTI has climbed to $49.33 from $48.40 and Brent $51.95 from $50.90.
That move has seen USDCAD slide through 1.3450 from 1.3496. USD sellers generally helping but moves tempered by CADJPY selling too. All in the mix still and not just an oil based move.
If only life was that simple eh?
Currently on session lows at 1.3443 . A few option expiries at 1.3450. Bids into 1.3430 and 1.3400.
