A post by @FirstSquawk on X.
LOWER OIL PRICES FAIL TO WEIGH ON CANADIAN DOLLAR, WHICH HOLDS STEADY - FX
@FirstSquawk on X
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Lower oil prices failed to drag down the Canadian dollar, with the loonie holding steady against major currencies despite the usual pressure cheaper crude puts on oil-linked currencies. The resilience matters because it breaks the typical correlation between crude and the CAD, suggesting other flows are offsetting the commodity headwind. Traders will watch whether the currency can keep shrugging off oil moves or whether the relationship reasserts itself in coming sessions.
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Named in this story
Canadian dollar, oil (OIL)
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