The loonie depreciated versus the U.S. dollar on Wednesday by 0.529 percent in the last 24 hours. The USD/CAD touched session highs of 1.4380 after the Department of Energy released crude oil inventories showed a a 230,000 gain when more than 2 million was expected, but the real insight on last week’s numbers was the large buildup of gasoline and diesel with 8.4 million barrels and 6 million respectively. The report drove the price of West Texas below $30 for the second time in two days. The price later stabilized at…
USD/CAD Loonie Continues Downward Trend as US Oil Inventories Expand
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