Keystone pipeline (Canada to Texas oil pipeline) not happening says the court

CAD losing a few tics further

  • federal judge blocked the Keystone XL oil pipeline
  • said the Trump administration's justification for approving it last year was incomplete, says the State Department did not properly account for factors such as low oil prices, the cumulative impacts of greenhouse gases from Keystone and the Alberta Clipper pipeline and the risk of oil spills.

The pipeline is key to removing bottlenecks on Canadian oil exports.

CAD had already lost ground overnight on the FOMC and this:

The response to this Keystone news has been for further CAD weakness, but only a few tics