FxWirePro: USD/CAD largely rangebound into NY session, focus on FOMC minutes
Oil pares gains on an unexpectedly large rise in U.S. inventory levels, but set for largest 1-week rise since Aug U.S. crude stocks rose by 3.1 mln barrels to 461 mln last week as refineries cut output and idled capacity…
Oil pares gains on an unexpectedly large rise in U.S. inventory levels, but set for largest 1-week rise since Aug
U.S. crude stocks rose by 3.1 mln barrels to 461 mln last week as refineries cut output and idled capacity, expectation was for a rise of 2.2 mln barrels
Underpinning the crude complex was a drop in the dollar ahead of the FOMC minutes, which may offer some insight into the outlook for interest rates
USD/CAD was largely rangebound on the day, currently trading at 1.3033, day's range 1.3021/3071
Canadian Housing Starts are due ahead followed by the weekly report on the US labour market
Later in the day, the FOMC minutes will take centre stage along with speeches by Bullard, Kocherlakota and Williams
