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USD/CAD Oil Market Turmoil Has Loonie Close to 1.40

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The USD/CAD managed to trade in a range between 1.38 and barely below 1.40 in the final two weeks of 2015. The uncertainty about the price of oil and the decision by the Federal Reserve to finally hike interest rates have taken their toll on the loonie. The Canadian currency has found no support as the revenues from oil rich Alberta have disappeared and have not been offset by exporting sales. The competitive advantage from a softer currency has not boosted exports enough as most of the

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