What happened to CAD / Crude Correlation?

The correlation between CAD and Crude was 90% earlier this year. Somewhere along the way the CAD went astray. Now the correlation is close to zero or possibly even negative.

What happened?

 

I don't know but I'm wondering, too....

 

spurious correlation...

 

surely the risk of rate cut in CAD has hit the Loon.

 

1# lower rates expected.

2# Canadians buying USD like there's no tomorrow for shopping and florida expenses.(hey 30 yrs we've been waiting so there some pent up demand )

3# have you seen the yen?

 

No clue what happened, I speculate they will again be in correlation around springtime.

 

Market is pricing in a 70% probability that Canada central bank going to cut interest rates.

 

Lets not forget the correlation with gold which has dumped.

 

Haha.

 

So, Market is pricing in a 140% probability that the Fed is going to cut interest rates a quarter in December.