USD/CAD breaks five-day losing streak
An early dip to 1.2972 threatened a six-day losing streak in USD/CAD for the first time since 2009 but a larger US oil inventory build reversed crude prices and sent the US dollar 33 pips higher against CAD on the day.
The pair is tracking oil closely today.
Here is a chart of CAD/USD against oil.
If you have been waiting for an opportunity to short oil or buy USD/CAD. I think today is the day.
