there's a high correlation between canadian dollar and oil. although data was moderate that came out about inventories.
the moving/defining part of todays trade is the dovish tilt from BOC. the loonie fell supporting oil prices.
oil is on the ropes and refinery utilization is very much to be focused on along with inventory numbers as we prep for driving season.
i expect the sideways range to continue until mid april when the driving season comes back into play