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September, 12 - USD and oil are not making CAD trading any easier

USD/CAD has long been out of our attention span. And rightfully so. Canadian dollar is not exactly known for the volatility or interesting and exciting news. It is usually just moving in the opposite from USD direction and that is pretty much it. The situation in the country allows CAD to stay more or less stable. So, when it comes to volatility we turn to CAD only when oil gets involved in the discussion. And today is the day for it. Today OPEC countries are going to sit down and discuss the situation in the oil trading segment of the market.

 

usdcad 12.09.2019

 

And we can already see that CAD is not having a field day with this news. There was some growth for CAD, but no USD is taking its toll. It is bad enough that the greenback is growing and pressing on CAD with its sheer size, but throw oil into the discussion and there you have it – the chart for the couple is going down. And that is even before the discussions ever started. What is going to happen to the couple when the talks on the output start? And what is it gets altered after all? These are the questions that you have to ask yourself if you are going to start trading CAD today.

 

And in order not to be confused, use your trading signals on the couple today.

 

 

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