CADUSD SINKS, DOLLAR UP, & WTI NEEDS A SHRINK

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.

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