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CME analysis argues the Canadian dollar has decoupled from oil since mid-2016 because of high household debt and overvalued real estate. It contrasts Canada's housing situation with the US housing crash of 2007-2009.
The loonie's underperformance versus crude is a currency-specific driver, so oil price moves alone may not lift the CAD and affect Canadian export pricing.
cmegroup.comMay 9, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
