- The USD / CAD pair rose to almost 200 pips from the lows of the European session.
- The Canadian dollar is one of the worst performing countries in the G10, affected by oil price turnover.
Sharp recovery from a 20-day simple moving average
In European hours, it reached a few USD / CAD USD / CAD To the bottom at 1.2301, the lowest for the week and also a 20-day simple moving average. It was reflected when the US dollar began to gain strength and then received support from lower oil prices.
the barrel arrived West Texas Intermediate Raw It reached its strongest level since 2014 earlier on Tuesday near $ 77.00 and then rose sharply. It tests the area of $ 73.00, a decrease of more than 4%. The decline was negatively affected by the Canadian dollar.
Demand for the US dollar, meanwhile, has risen amid growing risk appetite, despite US yields falling to its monthly lows. He stood up dollar index The US DXY fell 0.43% above 93.60. Data from the US did not meet expectations and was mostly ignored by market participants. The minutes of the FOMC meeting are due on Wednesday.