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USD/CAD Oil Price Drop Offsets Canadian Housing Prices

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The tumble in the price of crude put downward pressure on the CAD that depreciated agains the USD. The USD/CAD rose by 0.146 after analysts cut price forecasts for oil and Fed members were net hawkish for a December interest rate hike. The pair touched six week highs of 1.3341 but has given some of the gains back to trade at 1.3290 ahead of the end of trading on Thursday. The Canadian New Housing Price Index (NHPI) came in under expectation but still a positive 0.1 percent gain in September.

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