The US dollar rose against the Canadian dollar during the day on Wednesday, as the Crude Oil Inventories number came out much more bearish than
The US dollar rose against the Canadian dollar during the day on Wednesday, as the Crude Oil Inventories number came out much more bearish than anticipated. With that being the case, it’s likely that the Canadian dollar will continue to suffer, especially if the jobs number is good on Friday. Having said that, I believe that we are going to try to reach towards the 1.32 level given enough time, but it might be a bumpy ride between now and the announcement the comes out Friday early morning in the United States.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
