Loonie believes in friendship

USD/CAD is down as loonie is supported by its friends, oil and the S&P 500

When the WTI futures were down below zero, the Canadian dollar seemed to achieve something impossible. It remained stable, which is nonsense for the currency of an oil-exporting county. Nonetheless, a weaker correlation between the USD/CAD and the WTI has natural reasons. The oil price dropped so deep that all the negative resulted from the huge decline in the global demand and the increase of the supply due to the war between Russia and Saudi Arabia should have been priced in the loonie’s rate. That is why…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>