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A true test is coming up for USD/CAD. On Wednesday, the CAD strengthened alongside Oil, which hit $31/bbl. The strength of CAD & Oil came after Iran noted a support, albeit without joining in, on an OPEC production freeze. However, the action seems counterintuitive as production has been frozen at record high levels and US Oil companies are all but certain to ramp up production should the production freeze work to stabilize and left prices. A continuing glut in supply aligns with our 2016 Outlook for ....
