CAD spot, crude oil correlation went flat at the beginning of the month. 25-day rolling correlation jumped back to 68% from -1% back in Oct. 3.
USD/CAD trades below 1.2550, a fresh month to date low. As seen in the chart below, if crude oil futures hold the above 75.0/bbl range, there could be room for catch up in CAD below 1.25
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