The entire situation in China had an unlikely victim. It seems that with low activity in Chinese markets and with the situation being as unclear as it is, oil somehow appeared in the center of it all. The thing is no one knew what the oil demand of China was going to be and as a result it was hard to predict the future prices for the crude. But today the situation changed. Even though the situation in China is not getting any better, oil is shooting higher. Both of the major crudes are gaining per-barrel price and that is very welcome as with oil other assets are going to grow as well. For example, Canadian dollar.
With demand for USD climbing higher and higher, we got used to USD-led couple shooting up. But, there is one peer that is standing up to USD. And that is CAD. Today chart for USD/CAD is supposed to be much higher and USD is supposed to much stronger against its Canadian counterparts. But, for some reason we are not seeing a great surge in the chart. In general, the parts of the couple seems to be equal with USD just a little bit ahead.
So, are you seeing what a strong oil can do? Growing prices for the crude have given CAD enough power to push back against the USD itself! So, the couple deserves some of our attention at the moment. Are you using trading signals fir the couple?