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Watching CAD after the recent oil stability
It's interesting to see $CAD holding relatively flat today at 95.879, especially with oil's recent sideways action. I would have expected a bit more sensitivity given its commodity currency status. I'm keeping an eye on $EURCAD, currently around 1.60689, to see if the eurozone's inflation data later this week might finally give it a solid push, or if the $USDX's slight climb to 25.5067 today continues to keep it range-bound. Could be a decent setup if we get a clear breakout.
2 comments · 1 points
That's a good point about CAD's muted reaction. I've been wondering if the market's just waiting for a bigger catalyst, or if other domestic factors are weighing more heavily right now. EURCAD could definitely be the one to watch.