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There is something unusual happening with USDCAD this week that most traders will miss if they only look at the exchange rate in isolation. WTI is trading above $103. Brent is above $111. At these oil levels, the textbook says USDCAD should be moving lower - CAD is a petrocurrency, and its correlation with W
Something unusual is happening in the oil market this morning that most traders will miss if they are only watching one benchmark. WTI is down sharply, -3.56% to 98.38, while Brent is up +0.49% to 109.75 — the Brent-WTI spread has blown out suddenly to approximately 11.37 USD. This is one of the widest readings since the Hormuz crisis began, and it is telling a very specific story about the structure of the