# Oil to support CAD and NOK in coming weeks? - Nomura — Octa

> Scotiabank analysts note the Canadian dollar and Norwegian krone have decoupled from oil prices, and they expect a realignment with crude that could support both currencies in coming weeks. Their view is that negativity is already priced in and US bond yields are stabilising.

- Date: 2017-10-31 · published 2017-10-31T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/68714-oil-to-support-cad-and-nok-in-coming-weeks-nomura-octa
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

If the loonie realigns with firmer oil prices, USD/CAD would fall, lowering the cost of Canadian exports. The effect on feed prices is limited because the view is a currency forecast.

## Read by commodity

- WTI: neutral
- USDCAD: bearish ▼

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/506014/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.