The price of oil may continue to track the monthly range amid the string of failed attempts to test the August-high ($57.99).
With the US economy in the spotlight thanks to speculation that bond markets are signaling a recession in 2020, crude oil prices are losing ground once more.
The price of oil extends the rebound from the monthly-low ($50.52) as the US delays the next tranche of China tariffs to December 15.
Crude oil prices stand at risk of giving back the advance from the June-low ($50.60) as a ‘death-cross’ formation takes shape.
USDCAD losses in recent days have coincided with an uptick in crude oil prices. Will they continue?
A larger than expected build in crude oil inventories is dragging down oil prices, and in turn, the Canadian Dollar.