{"id":77712,"date":"2015-09-02T06:41:13","date_gmt":"2015-09-02T10:41:13","guid":{"rendered":"http:\/\/countingpips.com\/?p=77712"},"modified":"2015-09-02T07:35:56","modified_gmt":"2015-09-02T11:35:56","slug":"loonie-loses-ground-as-crude-oil-continues-to-fall","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/09\/loonie-loses-ground-as-crude-oil-continues-to-fall\/","title":{"rendered":"Loonie Loses Ground as Crude Oil Continues to Fall"},"content":{"rendered":"
September 2, 2015<\/div>
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Article by ForexTime<\/a><\/p>\n

USD\/CAD has moved back toward resistance near 1.3270, in the wake of declining oil prices which dropped more than 8% on Tuesday and continues to fall on Wednesday following a stronger than expected build in API crude oil inventories.\u00a0 On Monday, the USD\/CAD tumbled to 1.3117 from near 1.3200 following the negative, but better than expected Canadian Q2 GDP outcome. Monday\u2019s 1.3118 low seen late in the session provides initial support, though corporate bidding interest is noted into 1.3100.<\/p>\n

Speculative accounts have increased net short Canadian dollar exposure according to the latest commitment of traders report. \u00a0In the CFTC data, speculative accounts were net short -44k contracts, having swung from net long 7k at the end of May, eclipsing the net short -39k position seen in March.<\/p>\n

A full scale tug of war is being waged as prices continue to chop around the 1.32 region.\u00a0 The break down in crude oi land a revisit of the lows near $37, will likely push the USD\/CAD back up to the 1.3350 level.\u00a0 Support on the currency pair is seen near the 20-day moving average at 1.3150.\u00a0 Momentum is flat with the MACD printing near the zero index which reflects the current consolidation.<\/p>\n

\"cad-090215\"<\/a><\/p>\n

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\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>

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Article by ForexTime USD\/CAD has moved back toward resistance near 1.3270, in the wake of declining oil prices which dropped more than 8% on Tuesday and continues to fall on Wednesday following a stronger than expected build in API crude oil inventories.\u00a0 On Monday, the USD\/CAD tumbled to 1.3117 from near 1.3200 following the negative, […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-77712","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=77712"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77712\/revisions"}],"predecessor-version":[{"id":77717,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77712\/revisions\/77717"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=77712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=77712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=77712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}