cent: The OIS-implied probability of a January rate increase slid below 30 per cent from 70 per cent two weeks ago, according to The Toronto Star. Meanwhile, the price of Canadian oil, whose sharp drop since early October informed the BOC's stance, has been edging higher. The loonie ended Wednesday close to the weakest since June 2017 as traders marked down the odds of BOC rate hikes throughout 2019. The loonie ended Wednesday close to the weakest since June 2017 as traders marked down the odds of BOC rate hikes throughout 2019. It has rebounded to around 30 following production cuts in Alberta. 40 a barrel on WCS and they're no longer worried, Anderson said. JONATHAN HAYWARD / THE CANADIAN PRESS file photo I expect improving conditions for oil to point USD/CAD lower from here, said Greg Anderson, global head of FX strategy at BMO. Western Canada Select crude, the benchmark for Canadian oilsands production, approached 13 U.S. a barrel in November from a year-to-date high of nearly 58 in May.
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