USD/CAD fell 0.17 percent after the USD fell across the board in anticipation of the Federal Reserve’s rate announcement on December 16. The USD/CAD traded at 1.3565, with no data as investors didn’t have any data for the U.S. or Canadian releases. In volatile trading, West Texas crude oil recovered 0.36 percent over the past 24 hours. It printed highs at $38.58 and lows at $36.49. But the WTI price settled at $37.02 The stockpile of U.S. crude declined by 3.6million barrels according the Energy Information Administration EIA. This was despite the forecast calling for an increase of approximately half a million barrels. Due to the unexpectedly large increase in refined oil, the price of crude oil couldn’t capitalize on this drop. The higher stockpile of distillates compensated for the gains in crude inventories. Distillate demand is lower because of warmer than normal weather. Due to the global supply glut of crude oil and refined oil, U.S. producers are unable to send excess inventory abroad. This further reduces oil prices. The Canadian dollar will not receive any economic guidance as the current week is very sparse on the economic calendar. Thursday, December 10, at 8:30 am will see the publication of the New Housing Price Index (NHPI). U.S. economic indicators worth noting are the U.S. unemployment figures published on Thursday and retail sales figures published Friday.