Alberta’s Kenney: Federal government should take more action on oil prices

To convey the pessimism of the oil slump over the Canadian economy, Alberta’s Premier Jason Kenney recently crossed wires.

Key quotes

The federal government should take more action on oil prices.

Negative oil prices are very serious for Canada.

FX implications

The market’s paid a little heed to the news as such negative statements were anticipated to roll out following the WTI’s drop in negative territory (for May contract) given Canada’s dependence on oil. Also, a lack of clear direction offered an additional reason for the market’s lack of attention to the update.

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