Earlier this week, the Canadian dollar hit a 9-month high, as the USDCAD continued to drift lower. This is remarkable additionally because in the same period, the greenback has also been getting stronger. The Loonie has had its own special performance, but is getting extra attention for what it implies for other currencies. One of the big factors is oil, since that’s Canada’s largest export. Crude prices have been fluctuating lately from downward pressure due to worries about a global recession being counteracted by OPEC+ cutting production in a bid to keep prices higher. In all, however, over the last 9 months crude ... (full story)