Swing Trades: USD/CAD, LIGHT.CMD/USD

USD/CAD: Canadian Overnight Rate

The Canadian Dollar strengthened against the Greenback, following the Canadian Overnight Rate data release on Wednesday at 14:00 GMT. The USD/CAD currency pair lost 37 pips, or 0.28%, to continue fluctuating in the 1.3120 area.

The Bank of Canada changed their benchmark Interest Rate in line with expectations from 1.25% to 1.50%.

The governor of the Bank of Canada Stephen Poloz said, that he expect interest rate continue upward movement, and stands: "It's evident to us that higher interest rates will be warranted, but of course we're not in a position to say exactly how much higher or at what rate we might get there."

USDCAD

LIGHT.CMD/USD: US Crude Oil Inventories

Oil prices have increased after US Crude Oil Inventories data release on Wednesday at 14:30 GMT. The one-minute candle gained 65 pips, or 0.88%, and decreased back in next hours to continue fluctuating in 72.6 area.

The Energy Information Administration released the US Crude Levels data that came out lower-than-expected of negative 12.6M, compare to forecasted negative 4.1M.

A president at Lipow Oil Associates Andrew Lipow said: "In spite of the extraordinary draw in crude oil inventories, the market is under pressure after refiners produced a record amount of gasoline this week and in conjunction with a greater than expected build in distillate inventories." 

Oil

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