USD/CAD – Loonie Joined at the Hip to Volatile Oil

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The Canadian currency was quick to give back the gains from last week as the price of oil tumbled below $30 during the European session. Comments from the Organization of the Petroleum Exporting Countries (OPEC) seeking to stabilize the energy market alongside Russia were unsuccessful. Russian sources have been quoted as saying due to the nation’s oil production set up Russian oil is profitable at current levels. Those comments and the fact that Iraq announced record levels of production and

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