RAPID UPDATE AUD/CAD TP @: 0.91566 SL @: 0.91960 WTI ( | Focal Community Group (FXSignals)

RAPID UPDATE
AUD/CAD
TP @: 0.91566
SL @: 0.91960

WTI (USOIL)
TP @: 84.14
SL @: 82.34

We are also locking in profits with our AUD/CAD position. We have traded two effects here, both of which had a very strong impact on the commodity pair. First, the fact that oil prices rallied strongly today (supporting the CAD) and second, the weakness in iron ore prices, which hit a new 18-month low today (headwinds for the AUD). In addition, the different positioning of the central banks: the BoC has already completely ended its QE program (bond purchases) in October and is thus much closer to the normalization of monetary policy than the RBA. Despite a relatively high spread, the pair is very deep in the money for us. We are also tightening the SL (and widen the TP) for our oil position again.