-
USD/CAD: Sluggish Oil price checks bears below 1.3300, US inflation, BoC in focus
USD/CAD bears keep the reins around 1.3275, despite a defensive start to the key week, as market players seek fresh clues amid early Tuesday in Asia. In doing so, the Loonie pair justifies the latest weakness in the Oil price, Canada’s main export item, while probing the hawkish bias of the Bank of Canada (BoC). WTI crude oil remains mildly offered near $73.10 while keeping the previous day’s U-turn from a five-week high. In doing so, the black gold takes clues from the downbeat China inflation figures even as supply cuts from Saudi Arabia and Russia join hopes of more oil demand from the US. Even so, the mostly ... (full story)