USD/CAD below 1.36 as Oil Price Stabilizes

By Unknown

Senin, 05 September 2016

USD/CAD below 1.36 as Oil Price Stabilizes

USD / CAD lost 0.17 percent, the USD fell across before the decision the rate announcement from the Federal Reserve on December 16. There was no data to guide investors that the agenda was empty for the US and Canadian releases have left the pair trading at 1.3565. West Texas crude recovered 0.36 percent in the last 24 hours in a volatile trading session that printed highs of $ 38.58 and the low of $ 36.49 but the WTI price set at $ 37.02

the US crude inventories fell 3.6 million barrels according to the Energy information administration EIA when the forecast called for a gain of about half a million barrels. The price of oil could not take advantage of the decline in crude supply as refined oil also surprised with a bigger stronger than expected. The largest stock of distillates offset earlier gains on lower crude inventories. Warmer than usual weather is blamed for distillate demand is lower. The glut of world supply of crude and refined oil means that US producers have nowhere to send the surplus inventory, putting further downward pressure on oil prices.

Canadian dollar will get little guidance from economic releases that week looks very thin on the calendar economic. The price index of new dwellings (NHPI) will be released Thursday, December 10 at 08:30. US economic indicators to be noted are the US unemployment claims released Thursday and retail sales figures, Friday, December 11.

CAD events to watch this week:

Thursday, December 10
8:30 USD unemployment claims
Friday, December 11
8:30 USD basis retail sales m / m
8:30 USD PPI m / m
8:30 USD retail Sales m / m
10:00 am USD prelim UoM consumer sentiment

* All times EST
for a complete list of events planned in the forex market visit the economic calendar MarketPulse

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