USD/CAD Loonie Lower After Renewed Oil Tumble

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Canadian markets were back online and the loonie did not fare well agains the big dollar as oil fell following the announcement of an oil deal between Russia and some members of the Organization of the Petroleum Exporting Countries (OPEC). The Canadian dollar had managed to break some of the correlation to the price of energy, but the loonie and crude became once again joined at the hip. It appears that the higher the volatility and the presence of oil shocks dials the correlation up, while a

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