USDCAD is under some good pressure and is set up for another breakout, over the past 2 weeks each time it had a nice consolidation the volatility that followed the breakout gave us a nice sharp sell off, this one should not be any different.
crude didn't inch up after US crude inventories came ou 3 M after the previous 2 inventories was at 7 & 8 M.
the past week.. damnnn it came out to 10 M & nothing happened
& I know that Iran started more production this March.. but once again oil hasn't fallen
im kinda lost why its been gaining
It has to be that the public decisions regarding oil production are trumping and other news, even if inventories are down, if you have the people who are controlling the worlds oil promising to continue to ramp up production in order keep prices low, one inventory number isn't going to mean shit.