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USD/CAD nears the August low


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Maybe it’s all the money flooding into pot stocks

The rally in marijuana stocks is out of control with Tilray hitting $297 today, nearly doubling today alone and up 15x since early August.

USD/CAD is more-likely benefitting from a $1.32 rise in oil today. Canadian oil is still trading at a $32 discount but some money has flowed into the oil patch.

I think it will be tough to break below 1.2887 with US yields rising and NAFTA seemingly no closer to a resolution but that’s the line to watch.

               

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