FX:USDCAD   U.S. Dollar/Canadian Dollar
75 0 5
2 months ago
This is a weekly chart of USDCAD             and we can see how its moving against oil             :
Canada’s economy is dependent on exports, with about 85% of its exports going to its big brother down south, the U.S. Because of this, USD/CAD             can be greatly affected by how U.S. consumers react to changes in oil             prices.

If U.S. demand rises, manufacturers will need to order more oil             to keep up with demand. This can lead to a rise in oil             prices, which might lead to a fall in USD/CAD             .

If U.S. demand falls, manufacturers may decide to chill out since they don’t need to make more goods. Demand in oil             might fall, which could hurt demand for the CAD.
Put this in your mind when you want to trade USDCAD             . Wish for all the best
2 months ago
Comment: This is 1 hour chart : when oil is up , USDCAD is down :
snapshot
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