It's been another solid session for oil prices 8 June 2016
Better than expected Chinese data overnight has added to a bit of risk-on appetite and we've seen oil, and commodity prices, generally on the front foot.
Brent and WTI have posted fresh 2016 highs of $52.24 and $51.12 and that's lit a fire under the CAD to send USDCAD plummeting now to 1.2667 from 1.2720.
Demand/support into 1.2650-60 and we can expect a first wave of offers at 1.2700 to fill a few gaps then more back at 1.2720-30 which now becomes pivotal on the day.
Gold is also posting 2-week highs of $1255.20 giving the Aussie $ a helping hand. Currently 0.7478 with decent offers/res into 0.7500.
