The correlation continues to play out 18 May 2016
We saw oil prices fall in the early part of the session and triggered a decent rally in USDCAD before running into the 1.2980 offers just as oil prices found a base.
USDCAD currently back down to 1.2965 as Brent pops up to $49.08 and WTI $48.,19 from $48.88 and $48.03. Brent should find res/offers into $49.50 again if we continue to rally.
Offers on USDCAD at 1.2980 still and larger size at 1.3000. Demand now around 1.2930.
Very large option expiry interest at 1.2945 on Friday will also catch the attention.
