Rumors that Obama will cease purchasing oil sands. Short now, cover when the news breaks. Low-risk with the potential for some big moves.
You have a tight range that has been forming for weeks, possibly a pennant; it could break one way or the other soon, but I doubt oil sands exports is gonna do it. I know there are some CAD pulls out there like Gartman who think it will head back to parity this year, even. But take a look at the historical numbers. If we are heading back to all time lows, eventually, like we are with the Kiwi and Aussie, the CAD could slowly fall down to $1.60. Just a thought. But if you think this is it, the USD dollar top is over for good, now that it is printing money by the ton, then buy away. But you may be early, way early, to that party.
You Sir, are an idiot, OIL SANDS are basically on stand still right now as they can not pump that oil for less than 60 a barrell anyways. The oil sands in alberta are a wasteland right now.
It really doesn't matter about oil sand, because most oil sand projects are only making profit when oil price above $50. Since oil price falling hard, CAD stop falling around high 70s to lower 80s cents to USD. The only thing keeps CAD up, I think, it is Canadian national debts to GDP ratio is the lowest among all G7 countries. Beside, Canada is still exporting other commodities, such as potash, uranium, gold, wheat etc.. which is unlike other oil export countries. On the other note; gasoline price hasn't fall as hard as oil price, and copper price is still above 1.4, which is very unlike previous recessions. It is very strange, both gasoline and copper at current price level in a recession, ahead the next great depression.