The Crude Oil and Canadian Dollar correlation: USD/CAD, WTI

Since November 2nd, the USD/CAD has moved from 1.3350 to today’s low near 1.2688. During that that same period, West Texas Intermediate has moved from a low of 33.62 to today’s high hear 48.57. Crude oil is one of Canada’s largest exports, so it’s not surprising to see that the two instruments are correlated. The bottom of the daily USD/CAD chart below shows the current correlation between WTI and the Canadian Dollar. USD/CAD and Crude Oil are negatively correlated, meaning that when one instrument moves higher, the other moves lower. The current correlation between USD/CAD and WTI is -.87. For reference, … (full story)

Let's Have A Chat ​


please, upload jpg, jpeg, png or pdf files only