CAD weakness despite rate hike talks, what gives?

Watching the CAD this week, it's still pretty soft against the USD even with the whispers of BOC potentially hiking again. We're sitting around $CADUSD 0.71362 with the day range having been 0.7106–0.71423. You'd think the prospect of higher rates would give it more of a lift, but it just can't seem to break out. Makes me wonder if the market is just completely shrugging off BOC, or if there's something else brewing globally that's keeping the sentiment down.

My watchlist for anything that could influence this is pretty focused on oil now. If crude gets a bid, CAD should follow. If not, this drift lower could continue. Also keeping an eye on broader risk sentiment – seems like the market's still a bit wary, which isn't helping.