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1. • Positive correlation

     • Crude oil exports account for 10% of Canada's GDP. USD/CAD and the oil price have a positive correlation. (The y-axis to USD/CAD is reversed.) When oil prices rise, the Canadian dollar appreciates.
     Reference:

     USD/CAD vs. Oil Price | MacroMicro

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   What is the correlation between crude oil and CAD?

   • Crude oil exports account for 10% of Canada's . USD/CAD and the oil price have a positive correlation. (The y-axis to USD/CAD is reversed.) When oil prices rise, the Canadian dollar . CAD peaked out and reversed before oil prices did in 2008 and 2014. Canada is one of the world's largest exporters of commodities, including crude oil.

   USD/CAD vs. Oil Price | MacroMicro

   en.macromicro.me/charts/443/cad-wti

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   What is the correlation between CAD and oil prices?

   • USD/CAD and the oil price have a positive correlation. (The y-axis to USD/CAD is reversed.) When oil prices rise, the Canadian dollar appreciates. CAD peaked out and reversed before oil prices did in 2008 and 2014. Canada is one of the world's largest exporters of commodities, including crude oil. Crude oil exports account for 10% of Canada's GDP.

   USD/CAD vs. Oil Price | MacroMicro

   en.macromicro.me/charts/443/cad-wti

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   Is crude oil correlated with the Canadian dollar?

   • 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 Crude Oil and Canadian Dollar correlation: USD/CAD, WTI - FOREX.…

   www.forex.com/en/news-and-analysis/the-crude-oil-and-canadian-dollar-correlation-usdcad-wti/

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   Will the USD/CAD move higher if crude oil breaks lower?

   • If Crude Oil breaks lower, than the negative correlation suggests USD/CAD will move higher. Since November 2 nd, 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.

   The Crude Oil and Canadian Dollar correlation: USD/CAD, WTI - FOREX.…

   www.forex.com/en/news-and-analysis/the-crude-oil-and-canadian-dollar-correlation-usdcad-wti/

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   What is the correlation between oil prices and Canada's GDP?

   • Crude oil exports account for 10% of Canada's GDP. USD/CAD and the oil price have a positive correlation. (The y-axis to USD/CAD is reversed.) When oil prices rise, the Canadian dollar appreciates. CAD peaked out and reversed before oil prices did in 2008 and 2014. Canada is one of the world's largest exporters of commodities, including crude oil.

   USD/CAD vs. Oil Price | MacroMicro

   en.macromicro.me/charts/443/cad-wti

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   How does oil affect the value of the Canadian dollar?

   • Over the long run, when the price of oil rises, the value of the Canadian dollar (also called the loonie) also usually rises relative to that of the U.S. dollar. That correlation can be directly attributed to the way Canada earns most of its U.S. dollars—from the sale of crude oil—and the percentage of Canada's revenue that this constitutes.

   How & Why Oil Impacts The Canadian Dollar - Investopedia

   www.investopedia.com/articles/investing/021315/how-why-oil-impacts-canadian-dollar-cad.asp

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3. www.dailyfx.com › usd-cad › link-between-canadianCAD and Oil: The Canadian Dollar and Oil Price Correlation

   www.dailyfx.com › usd-cad › link-between-canadian

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   Apr 25, 2019 · The Canadian Dollar and crude oil are strongly correlated. This means they are often likely to move in similar directions to each other. But what are the reasons for this relationship?

   • Occupation: Markets Writer

4. www.investopedia.com › articles › investingHow & Why Oil Impacts The Canadian Dollar - Investopedia

   www.investopedia.com › articles › investing

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   Mar 5, 2022 · The strong correlation between the Canadian/U.S. dollar exchange rate and oil prices is due, in large part, to the amount of the nation’s total foreign exchange earnings that are garnered...

5. Videos

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     1:22

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     CAD-USD, Crude Oil, & Gold, Chart Comparisons With The Correlation Coefficient Indicator

     Sep 11, 2023

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     investopedia.com

     How & Why Oil Impacts The Canadian Dollar

     Feb 13, 2015

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     6:21

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     How & Why Oil Impacts The Canadian Dollar 🛢️

     Sep 26, 2018

     9.9K Views

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6. www.babypips.com › learn › forexHow Oil Moves with USD/CAD - BabyPips.com

   www.babypips.com › learn › forex

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   When oil goes down, USD/CAD goes up. And to make the correlation clearer, we can invert USD/CAD to show how both markets move pretty much at the same time (i.e., crude oil will gain value with the Canadian dollar while the U.S. dollar falls…and vice versa.

7. www.forex.com › en › news-and-analysisThe Crude Oil and Canadian Dollar correlation: USD/CAD, WTI

   www.forex.com › en › news-and-analysis

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   Dec 17, 2020 · 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.

8. www.investopedia.com › articles › forexUnderstanding the Correlation of Oil and Currency - Investopedia

   www.investopedia.com › articles › forex

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   Apr 17, 2024 · Key Takeaways. Oil and currencies are inherently related wherein price actions in one force a positive or negative reaction in the other in countries with significant reserves. Countries that buy...

   • Author: Alan Farley

9. globalnews.ca › news › 8666316Canadian dollar no longer rising with oil prices, adding to ...

   globalnews.ca › news › 8666316

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   Mar 8, 2022 · The normal tight relationship between the Canadian dollar and oil has typically meant the central bank could rely on a stronger currency to ease inflation pressures brought on by higher energy...

10. en.macromicro.me › charts › 443USD/CAD vs. Oil Price | MacroMicro

    en.macromicro.me › charts › 443

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    Crude oil exports account for 10% of Canada's GDP. USD/CAD and the oil price have a positive correlation. (The y-axis to USD/CAD is reversed.) When oil prices rise, the Canadian dollar appreciates. CAD peaked out and reversed before oil prices did in 2008 and 2014.