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USD/CAD – Loonie Under Pressure as Oil Tumbles

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Mondays CAD decoupling from the price of oil proved to be a mirage. With both West Texas and Brent crude falling by more than 4 percent the Loonie lost ground versus the USD in the Tuesday trading session. The price of oil got a temporary reprieve after rumour circulated (and where fanned by official comments) about a potential production deal between Organization of the Petroleum Exporting Countries (OPEC) and Non-OPEC members such as Russia. Iran claimed to know nothing which did not bode

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