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COT Data for Canadian Dollar Has Message for Oil
Sometimes it is not about what you know, but who you listen to. And if you learn to get answers from unusual places where no one else is looking, that can be the most useful information of all. The value of the Canadian dollar versus the US dollar has long been known to fluctuate in sympathy with oil prices. That makes sense, because the Canadian oil sands have long been a big source of overall North American oil production. The economics of that type of extraction took a big hit with the Covid Crash earlier this year, but the rebound back toward $50/barrel has returned that market to a more normal condition. In the ... (full story)