USD/CAD Price Analysis: Move beyond 100- SMA on H4 to pave the way for further intraday gains – by hareshmenghani USDCAD China GDP Technical Analysis Currencies
Sliding Crude Oil prices undermines the Loonie and is seen lending some support to the pair.USD/CAD
China's second-quarter GDP print falls short of market expectations and raises concerns concern about the fuel demand in the world's top crude importer. This, along with the resumption of production in Libya, drags Crude Oil prices away from the highest level since April, which, undermines the commodity-linked Loonie and acts as a tailwind for the USD/CAD pair. The upside, however, remains capped in the wake of subdued US Dollar price action.
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