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24 Dec 2014
USD/CAD shows signs of life, pushes higher
FXStreet (Córdoba) - USD/CAD is one of the few FX pairs showing signs of activity in extremely thin market conditions Wednesday, with the pair briefly falling to levels sub-1.1600 only to bounce back and erase daily losses.
USD/CAD climbed half a cent from daily lows and has even pushed to fresh daily highs at 1.1640 zone in recent dealings. At time of writing, USD/CAD is trading at 1.1637, recording a 0.20% gain on the day.
The loonie continues to trade near 5-year lows versus the greenback as oil resumes the fall after a short-lived correction. US government's Energy Information Administration reported inventories rose by 7.3 million barrels in the week ending Dec. 19, sending oil prices to fresh session lows.
USD/CAD climbed half a cent from daily lows and has even pushed to fresh daily highs at 1.1640 zone in recent dealings. At time of writing, USD/CAD is trading at 1.1637, recording a 0.20% gain on the day.
The loonie continues to trade near 5-year lows versus the greenback as oil resumes the fall after a short-lived correction. US government's Energy Information Administration reported inventories rose by 7.3 million barrels in the week ending Dec. 19, sending oil prices to fresh session lows.