Brandon50115

Storm Nate could hold down a move upward in the USDCAD

FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
Canada supplies the US with 38% of its oil , then Saudi Arabia at 11%. A short-term hike (probably 12 days or so) in oil prices will give a boost to Canada's bottom line, essentially placing more demand on Canadian dollars. This demand gives strength to the Canadian dollar . That strength pushes down the USDCAD pair.

I'm neutral on this until the tropical storms are over and the market corrects back to normal levels.

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