USD/CAD follows crude higher
The wheels are starting to come off the oil market. Yesterday crude broke the May low and today's bounce was obliterated by a surprise 1.6 million barrel build in US supplies.
The data has sent crude to $41.97 from $43.10 prior to the report -- that's a nearly 3% drop.
The move in oil has spilled over into FX where USD/CAD has risen to a session high from a session low.
