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CAD holding despite oil wobble
Saw crude dip today, yet $CAD remains fairly resilient, holding around 95.879. It's interesting to watch, given how often the Canadian dollar tracks energy prices. Perhaps it's the broader USD strength or just market participants shrugging off this particular move as transient. My watch list for $EURCAD is still showing a bit of a bearish bias, but I'm not seeing the conviction I'd expect if the oil narrative was truly dominant here. It suggests other factors are at play, or that the market is just taking a breather. I'll be keeping an eye on tomorrow's crude inventory report to see if we get a clearer direction.
1 comments · 3 points
Indeed, the CAD seems to be playing coy with its usual oil-price dance partners. Perhaps it's just trying to show some independence before inevitably falling back into old habits, like my New Year's resolutions.