Oil jumped the most this year after Iran shot down a U.S. drone and Donald Trump warned the Persian Gulf nation it made “a very big mistake,” stoking tensions in the epicenter of global crude production. Markets are waiting for an official U.S. response, once the U.S. has fully determined where the drone was, then there will be an announcement.
The Canadian dollar has rallied not only on the Iran news but also on yesterday’s Fed announcement that it wouldn’t cut rates immediately however do not rule it out in the future, as expected.
There can be no real guess as to where the USDCAD will go, markets are in too much of a flux, it all depends on the next news headline.
Currently Close Range
USDCAD 1.3210 1.3280 1.3151-1.3286
EURCAD 1.4905 1.4908 1.4863-1.4931
GBPCAD 1.6771 1.6788 1.6675-1.6821
US: Jobless Claims wk6/15 222K 216K
Philly Fed Business Survey June 16.6 0.3
Leading Indicators May 0.1% 0.0%