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The US dollar held its gains as markets focused on a possible Federal Reserve rate hike that month. USD/CAD traded around 1.33 in a sideways range, and traders were waiting for a breakout in oil prices.
The sideways USD/CAD range shows the loonie is tied to oil and US rate expectations. A break in either direction would affect the cost of Canadian-linked commodity trade.
exchangerates.org.ukFrançois AuréFeb 28, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
