US Dollar To Canadian Dollar (USD/CAD) Eyes Below 1.2800, Crude Oil Demand To Recover - What Will Be Crude Oil Price? | ICM.COM

USD/CAD fell in the Asian session to the low of 1.2800 before recovering sharply to 1.2838. The currency pair is expected to fall below 1.2800 following the drop of US dollar index (DXY) despite the release of an extremely hawkish Federal Open Market Committee (FOMC) minutes on Wednesday.
That aside, oil prices have broken out of the crucial resistance of $110.00 and touched $111 before retreating as investors expected oil demand to recover. The ending of the two-month-long lockdown period in China will be lifting the demand and the price.