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0.00091213134691399 0.00271815141380352 0.00121617512921858 -0.00182426269382798 0.00699300699300711 0.0115536637275768 0.01646701124962 0.0203709334144117
Stock impact report

The loonie isn't following oil prices any longer - nor much else [Globe and Mail, The (Toronto, Canada)]

Pan American Silver Corp. (PAAS) 
Last pan american silver corp. earnings: 2/19 07:59 pm Check Earnings Report
US:NASDAQ Investor Relations: panamericansilver.com/investors
further evidence of a potential end of the petroloonie phenomenon. In truth, however, the domestic currency is not tracking any of its historic drivers. Mr. Porter noted that in the past, a US$10 move in the West Texas Intermediate (WTI) crude price would push the value of the loonie higher by three cents. Yet since mid-June 2021, WTI is up almost 20 per cent while the Canadian dollar is down 10 per cent. BMO cites two reasons for the new disconnect. One, the U.S. has turned itself into a major oil producer thanks to shale operations and buys less foreign crude. Two, Canadian producers struggle to get their oil to global markets, which means foreign commodity prices do not have the same effect. The lack of correlation between crude and the loonie is not unprecedented. From 2010 to 2018, for instance, relative bond yields – the difference between the yield on the Canadian two-year bond minus the two-year U.S. Treasury yield – tracked the dollar's value far better than crude. Ther Show less Read more
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