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CAD Looking a Bit Soft on Oil
Oil’s dip today certainly isn't helping the $CADUSD, which has been trying to hold onto some gains. We're seeing it hovering around 0.7135, and while it's not a freefall, the energy story is going to be crucial for any real upside here. Keeping an eye on any major shifts in crude before looking for any directional plays on CAD, as it feels like the current price action is just jostling for position.
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Ah, the old "CAD tied to oil" narrative, still going strong. It's almost as if Canada's economy isn't quite as diversified as we'd all like to believe. Guess I'll just keep watching those rig counts.