- USD / CAD is fluctuating in a very tight range on Thursday.
- WTI is consolidating Wednesday’s gains, trading below $ 48.
- US dollar index slopes lower as markets seek Brexit deal
The pair USD / CAD it moves laterally in an adjusted range as trading volume decreases on Christmas Eve. At time of writing, the pair was unchanged on the day at 1.2843.
WTI changes direction on Thursday
On Wednesday, rising crude oil prices and the general weakness of the USD caused the USD / CAD to break a three-day winning streak.
With a barrel of West Texas Intermediate (WTI) gaining more than 2%, the related to commodities outperformed its rivals and the USD / CAD lost almost 60 pips. On Thursday, WTI consolidated its gains near $ 47.75, shedding 0.6% on the day.
On the other hand, the US dollar came under further selling pressure as investors applauded reports suggesting that the UK and the EU reached a trade deal. However, the official announcement that was expected to be released earlier in the day was delayed due to some details on fishing quotas.
However, the dollar struggled to attract investors and the US dollar index lost 0.12% on the day at 90.30.
The only data from Canada on Thursday showed that building permits in November rose 12.9% to beat the market expectation of 3%, but this was largely ignored by market participants.
Technical levels
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