USDCAD Latest News

Net retracement for the exchange rate between US dollar and Canadian dollar, from late November to now the prices have increased from 1.355 to 1.31. At the moment the exchange rate is relatively stable with a slight decline of 0.1%.
Leading the downside is the price of oil continues its euphoric rally after the producing countries have reached a historic agreement to cut production of 1.2 million barrels for the OPEC countries and 600,000 for non-OPEC. With oil prices above $ 52 the Canadian dollar has found a remarkable inspiration upside favoring the exchange rate with the US dollar. In doing so the oil stocks should start to decline in the early months of 2017, bringing the price of oil to rise again, therefore could continue the process of appreciation also the Canadian dollar.
The US dollar instead waits until the end of the OPEC meeting to figure out what will become of the rise had until a few days ago. After the election of Trump has had a significant appreciation of the dollar against major global majors. This assessment, however, started to show the first signs of abating with the operators who took profits ahead of the Fed meeting today. The outcome of the meeting taken for granted has led the dollar to discount in advance the tight monetary policy. In this case, if the maneuver is confirmed should not change that much the dollar, totally opposite case, however, if the Fed were to surprise everyone by opting for a new referral. In that case, in addition to losing the credibility of the comparisons of investors also trigger an unexpected collapse of the dollar.


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