USD/CAD: short-term correction is possible

Forex analytics: Current trendDespite favorable Chinese macroeconomic statistics and a decline in the US drilling rig count, the global oil market will continue being oversupplied in the medium term. The Canadian dollar is a commodity currency, and the correlation between the USD/CAD pair and the price of oil is about 92%.Given a decline in oil prices coupled with expectations of a rise in US interest rates ...