Canadian Dollar Strength Could Signal Higher Oil Prices Ahead
Mike Paulenoff | Apr 13, 2016 12:13AM ET
Notice that the USD is pressing on its March low at 1.2860, a level last seen in July 2015.
It should come as no surprise that "petro-currency" CAD has climbed 14% since January 20 as Crude Oil recovered from $26.06 to nearly $42.00 during the same timeframe.
At the same time, USD/CAD appears to be on the verge of breaking down further (CAD stronger). Perhaps the set-up is also 'warning us' to expect additional strength in Crude Oil too?
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