forex trading

Crude prices have plunged through Monday's session. Capping the day at a $7.18 drop, that easily cleared the centennial mark, WTI crude prices were trading down at $94 at the end of the US session. The benchmark commodity is now testing lows that haven't been seen since February 19th. What's more, prices for the necessary good can certainly be said to be in a bear market, as with today's tumble oil is off over 36 percent from the record highs set in July. Naturally, these extreme moves have rekindled the correlation between the commodity and USDCAD. This was the key component in keeping USDCAD bouyant through Monday's session. Can the pair hold through the rest of this week? That will depend on whether oil can continue selling off and/or the financial markets are set for bigger troubles over the coming days

Written by John Kicklighter