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Canadian dollar stronger on higher oil prices and weaker USD

By MoneyWay | Mar 12, 2019

Oil traders continue to expect that Saudi Arabia and OPEC will adhere to their commitments of lower oil production thereby pushing prices back to recent highs. The USD has fallen foe a third day in a row against most currencies, traders are now looking at risk on trades, allowing other currencies to receive a boost.

There is no Canadian economic data till Friday which is Manufacturing sales, not a market mover, but still worth watching.

Currently             Close                     Range

USDCAD               1.3380                   1.3394                   1.3370-1.3417   

EURCAD               1.5107                   1.5061                   1.5060-1.5123

GBPCAD               1.7505                   1.7613                   1.7444-1.7797

                                                                                                Prior                      Actual

US: Consumer Price Index February M/M              0.0%                      0.2%

                                                                      Y/Y                  1.6%                      1.5%

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