Canadian dollar up with the price of oil

Key Movers

The dollar was mixed in the first days of trading since US legislators failed to agree on a stimulus package and President Donald Trump signed executive orders attempting to reboot the economy. The US Dollar Index is up .05% since yesterday’s close and is down a tenth of a percent against the euro and the pound. USD/CAD is down .25%.
UK jobs data could spark a reversal in the pound's recent gains should the unemployment rate in June exceed a forecast of 4.2%. The pound may come under significant pressure should the unemployment data come out worse than expected. Further concerns lie ahead when the British government's £33.8 billion furlough scheme comes to an end in October.
The Royal Bank of Australia said that it expects GBP to fall 3% in 2020 followed by a likely 6% rise in 2021. Lockdowns in the country could fuel a longer economic recovery and push unemployment into next year with an unknown timeline of when a COVID-19 vaccine will be available. It is unlikely the RBA will change its current stance on the cash rate keeping it at record lows of 0.25%.