Will Oil Turn Lower Again?

Google+ Pinterest LinkedIn Tumblr +

The USD is currently showing momentum again and it looks like it has found a bottom against the CAD. Having been lifted from the support area around 1.300 (psychological support) area, the greenback might now be looking to book more gains against the Loonie.

With the recent rise in oil as well markets on a surprise inventory drop, a stronger greenback may push the black gold back lower, especially as markets begin to lose faith in over-optimistic deadlines for a Covid-19 vaccine. The CAD could also weaken further and we would expect the market to grow momentum soon towards our target at around 1.32.

风险警告: 外汇/差价合约以及其它衍生品交易为高度投机行为,涉及严重风险。 一般风险披露