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USD/CAD sideways at 1.047 zone after earlier plunge

FXstreet.com (Chicago) – USD/CAD fell to 6-day lows as the loonie strengthened driven by rising oil prices fueled by risk aversion among market participants after rumors of potential military strike on Syria.

Fed’s tapering and Syrian concerns

In terms of relative strength, the loonie has declined 0.07% against the greenback. In Canada, the S&P/TSX60 closed with 1.36% losses potentially due to Syrian concerns. September possible tapering from the Fed remains in the minds of investors and speculators as stated by Canada Deputy Governor John Murray. Industrial production prices are due later in the week in Canada while the US …read more