Will the loonie lead crude this time?

Will the loonie lead crude this time?Historically, the CAD/USD exchange rate has tracked crude prices reasonably well. Using weekly data going back to 1983, the two series have a 67% correlation. In recent weeks, however, the Canadian has broken out and is powering towards parity with its American counterpart. In contrast, crude oil prices have languished in the $80 range. Will the Canadian dollar take a break from its recent hot streak, or is a rally…

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