In past few sessions, the DXY
has advanced +150bps on the back of Fed Fischer’s comments. In return, CAD/USD pair is under-pressure now probing in the mid-.76 handle. A stronger dollar will weaken foreign purchasing power, thus sending WTI under pressure. Such Forex moves could have a negative impact on Spot WTI pricing indicating resistance is stronger than anticipated at such levels.
Read more: http://stockboardasset.com/insights-and-research/cadusd-sinks-dollar-wti-needs-shrink/