Oil prices have been on a gradual path of rises for quite some time. And now, WTI crude oil tops the 2015 high of $62.60 and reaches new highs $62.69.
It currently trades at the highest levels since December 2014. The breakout awaits confirmation.
The move higher in oil prices should give a boost to the Canadian dollar. The loonie enjoyed the superb jobs report on Friday with USD/CAD falling under 1.24. It then took some profits but dropped once again on the upbeat quarterly report from the BOC.
Dollar/CAD is on the rise again, mostly due to the renewed strength of the US dollar.
more coming
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