Loonie's catching a bid today as crude rallies and productivity numbers surprise to the upside. When oil pushes higher, CAD typically follows—classic commodity currency behavior. But here's the interesting bit: productivity growth just printed better than expected, which could shift the narrative around Canada's economic fundamentals.

For those tracking macro correlations, this matters. Stronger commodity currencies often signal risk-on sentiment flowing into cyclical assets. Oil above certain thresholds usually means energy sector money is moving, and that liquidity eventually finds its way into speculative markets. The productivity angle adds another layer—improved economic efficiency could mean the central bank has more room to maneuver without stoking inflation fears.

Keep an eye on whether this CAD strength holds. If it does, we might see some interesting movements in trading pairs and broader risk appetite across markets.