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    USD/CAD: oil quotes and Canadian dollar under pressure on 03.07.2015

    On Friday, during the Asian session, August WTI crude oil futures were trading down by $ 0.27, August Brent crude oil futures on ICE lost $ 0.18.

    Growing oil supply causes oil prices to start dropping, which strongly correlates with price of the Canadian dollar. Thus, the Canadian dollar comes under downward pressure. The pair USD/CAD is also supported by the strengthening US dollar.

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