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Oil is till over $64 USD a barrel, Canadian dollar unchanged

By MoneyWay | Apr 9, 2019

The USDCAD has bounced off the 1.3280 level and will likely need to see oil over $65 USD before it breaks this level. Even though oil prices have moved 42% higher since December, the USDCAD has moved less than 5%, leaving traders scratching their heads. This disconnect is due to prospects of a softer economy, and the potential for a housing market correction, both of which have yet to materialize.

Currently             Close                     Range

USDCAD               1.3321                   1.3314                   1.3284-1.3329

EURCAD               1.5025                   1.4996                   1.4972-1.5033

GBPCAD               1.7370                   1.7388                   1.7339-1.7449

                                                                                                                Prior                      Actual

US:   Job Openings & Labour Turnover February                 7.581M                 7.087M

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