USDCAD will it drop due to oil freeze?

FX:USDCAD   U.S. Dollar / Canadian Dollar
192 2
Oil prices have been falling all times low ...

Oil producers have lost billions on oil slippage

There is a excessive supply for oil over demand

Saudis and Russia are the biggest oil producers in the world

They with Venizula, Qatar if eventually freeze oil supply

Oil prices will go up (if Iran also agrees)

Lower the supply higher the price..

Any price rise in oil will favour CAD pairs

For this deal to take place takes time and

USA inflation 0.7% Interest Rate 0.5%

CAD Inflation 1.6% Interest Rate 0.5%

CAD Unemployement 7.2% US unemployement 4.9%

inflation of US is lower than Canada

Higher the inflation lower the purchasing power

Short term USD dollar will be stronger

Selling @ 1.4066
TP1 near low 1.3650
TP2 1.3235
TP 3 1.2478

CAD inflation rate increased from 1.6% to 2.0%

USA inflation rate increased from 0.7% to 1.4% (2.0% being FED's target..)
Data from
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out