[USDCAD] WAITING "OPEC" DECISION...

The oil production decision at the OPEC meeting on Friday, June 22, is interesting on several counts. First, it is much more than an OPEC meeting, given the lobbying by the United States, and direct negotiations between Saudi Arabia and non-OPEC member, Russia.
Effectively, we now have the top three oil producers in the world - the United States, Russia and Saudi Arabia - diplomatically negotiating global oil production prior to the OPEC meeting, or we should say prior to the meeting between Saudi Arabia and the rest of OPEC.
The actual OPEC oil production decision depends mostly on what Saudi Arabia and Russia decide to do, despite possible protests from Iran. (CME)
With this in mind, we took a short position and managed it during this event, if you do not want to risk, move stop loss to breakeven.

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