USD/CAD is now lower on the week despite a 10% drop in oil prices | Forexlive

Is USD/CAD front-running a rebound in oil prices?

The pair is down 92 pips to 1.3522 today and at a two-week low.

The US side of the equation is also important today as the market frets that the Federal Reserve will need to cut rates this year to stem a banking crisis. US 2-year yields are down 20 bps today and flirting with the bank crisis lows.