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The Canadian dollar dip was a shallow one, and that’s telling

May 14, 2021 at 03:41PM

The Canadian dollar dip was a shallow one, and that’s telling
Can’t keep the loonie down
USD/CAD is near the best levels of the day, down 67 pips to 1.2094.
Today’s drop completely erases the gain yesterday. What’s interesting is that oil’s rebound today only covers about two-thirds of yesterday’s loss. Copper (which has a tight correlation with CAD lately) has also barely budged and lumber is
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