It appears low oil prices are not awesome for everyone. For the second quarter in a row, Canadian GDP dropped (-0.5%) pushing America's northern neighbor back into recession. What is ironic is that this was better than the 1% drop that was expected and so CAD is strengthening.
[3]
and the kneejerk is a strengthening of CAD against the USD as the drop was less than expected...
[4]
Charts: Bloomberg
