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Oil has its worst day, Canadian dollar weaker to USD

By MoneyWay | May 23, 2019

China issued two commentaries through its party newspaper warning of a “technology cold war” with the U.S. Global equity markets fell, and so have commodities especially oil, which has dropped as mush as 5.7%. Currently, West Texas Intermediate is hovering around $58.25 USD a barrel. This news, along with yesterday’s higher inventory numbers have taken any wind out of the sails on oil.

The USDCAD is higher, still in the recent trading range, Tuesday’s strength is just a blip and basically been ignored, expect this range to continue.        

Currently             Close                     Range

USDCAD               1.3468                   1.3435                   1.3432-1.3502

EURCAD               1.5035                   1.4980                   1.4980-1.5046

GBPCAD               1.7050                   1.7011                   1.6962-1.7082

                                                                                                Prior                      Actual

US:         Jobless Claims wk5/18                                    212K                      211k

                New Home Sales April                                    723K                      673K

                           

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