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USD/CAD On The Rebound As Crude Oil Fails To Rally

Discussion in 'Technical Analysis' started by Kaitlin, Feb 11, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    Despite US government data on Wednesday showing a surprise draw in crude oil stockpiles of 754,000 barrels for last week, against previous expectations of over a 3-million-barrel build, oil prices failed to rally. Quite the opposite, the West Texas Intermediate (WTI) benchmark dropped to a new 12-year low around the $27 level.[​IMG]

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