WTI crude oil 10 mins
It was a choppy one with two flushes lower bid back in fairly short order. Goldman Sachs was out with a note trimming its oil forecasts and Russia cut off supplies for Poland but the market is mostly watching China for signs of post-covid demand.
The Canadian dollar has had a decent day today despite the fall in oil, in part because natural gas is up nearly 7% on forecast for colder weather. USD/CAD fell as low as 1.3535 and is now trading at 1.3578, down 32 pips on the day.
For the day ahead, the API report will be released. I'm 95% certain these numbers are leaking about 6 hours early. The trade tomorrow will be to go with whatever inexplicable move develops, or (perhaps better yet) to avoid it altogether.
