The Traderszone Network

Published in TZ Latest News 11 December, 2016 by The TZ Newswire Staff

ForexLive Asia FX news: Weekend oil output cut agreement sends CAD higher early

Forex news for Asia trading Monday 12 December 2016
Monday:
Weekend:
USD/CAD opened lower in very early Asia trade on Monday after oil production cut agreements were sealed over the weekend. The CAD strength didn’t make the headlines like the jump in oil prices did many hours later, but it was all part of the same response to weekend agreement amongst OPEC and non-OPEC being finally sealed to lock in production cuts. Going forward now we’ll see how the agreement holds up, but for today it was surge day for oil prices.