USDCAD slides with Oil following suit on news of US-Venezuela deal. Will Canadian inflation rise once more adding further pressure on the Bank of Canada (BoC)?
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.Wall Street IG Client Sentiment: Our data shows traders are now net-short Wall Street for the first time since Sep 21, 2023 when Wall Street traded near 34,068.90.USDCAD continued its slide started on Friday pushing further away from the 1.3700 mark.
Alternatively, a break of the trendline to the downside opens up a push lower toward support at 1.3370 before the 1.3250 level comes into focus.Taking a look at the IG client sentiment data and we can see that retail traders are currently net SHORT with 61% of Traders holding short positions. Meanwhile, potential pressure on Oil prices from the conflict in the Middle East have thus far remained at bay as global diplomats attempt to stem the tide and prevent a spread. Another area that should be monitored the longer the tensions in the Middle East continue should the straight of Hormuz which is a chokepoint for nearly 20% of the worlds oil.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD consolidates in a range around mid-1.3600s, downside seems cushionedThe USD/CAD pair struggles to gain any meaningful traction on Monday and oscillates in a narrow trading band, around the 1.3650 area through the first
Read more »
US, Venezuela to announce oil sanctions deal on Tuesday -reportUS, Venezuela to announce oil sanctions deal on Tuesday -report
Read more »
WTI pulls back amid possible US-Venezuela Oil deal amid Middle East tensionsWest Texas Intermediate (WTI), the US Crude Oil benchmark, retreats after testing the 20-day Exponential Moving Average (EMA) on news the US and Venez
Read more »
Venezuela is set for a ‘long journey’ to boost oil output if U.S. eases sanctionsDeal to end sanctions would require Venezuela to conduct a competitive, internationally monitored presidential election next year
Read more »
Oil futures finish lower as traders weigh risks to oil suppliesMyra P. Saefong, assistant global markets editor, has covered the commodities sector for MarketWatch for 20 years. She has spent the bulk of her years at the company writing the daily Futures Movers and Metals Stocks columns and has been writing the weekly Commodities Corner column since 2005.
Read more »