Description
⋅ 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
USA inflation rate increased from 0.7% to 1.4% (2.0% being FED's target..)