USD/CAD flows: Gap Filled

The OPEC+ has agreed to extent output cuts by another quarter with Saudi Arabia's extra voluntary cut to end in June 2024. The decision will keep supply at current level while the season is heading into summer. Oil gap and continued to trade higher at Monday's open in reaction to the headline but has since erased most of their gains yet the gap is not closed.

USD/CAD gap around 10 pips lower and has reversed losses to trade 0.05% higher at 1.3562.