CAD - daily note for August 11

The best results after the US dollar today showed the Canadian dollar, unexpectedly and significantly raised in the conditions of strengthening USD. This very remarkable fact is fully explained by the increase in oil prices by 4.5%. Discussions on possible measures to stabilize oil prices caused the increase in commodities, although the talks will take place only at the informal meeting at the end of next month. The probability of changes in production volume is small, but today there weren't no major factors, so even a minimum chance was enough for USD/CAD to fall to its lowest level for the month.