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USD/CAD – Loonie Lower as Oil Drops on Iran Comments

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Canadian dollar was dragged lower as volatility in the energy markets continues. Organization of the Petroleum Exporting Countries (OPEC) member Iran is willing to freeze production output of crude, but not at January levels as Saudi Arabia and Russia have been discussing. Iranian production was halved as the international sanctions that were lifted this year took its toll. The plan from Tehran is to boost production back to pre-sanction levels; around 4 million barrels a day from current

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