Month: April 2019

Canadian Dollar Outlook Positive as Crude Oil Prices Head Higher

Canadian Dollar Outlook Positive as Crude Oil Prices Head Higher

WHAT IS FOREX, WORLD NEWS
CAD price, oil news and analysis: The Canadian Dollar has so far failed to benefit from rising oil prices on the demand by the US that other countries halt their buying of Iranian crude. However, the news is likely to boost CAD near-term, sending USDCAD lower. Canadian Dollar to Benefit from Rising Crude Oil Prices Surprisingly, perhaps, the Canadian Dollar has so far shrugged off the US demand that all other nations stop buying Iranian crude oil or face sanctions. Canada is a major oil exporter so the CAD tends to rise when oil prices climb and fall when they dip. By contrast, USDCAD is firmer in Europe Tuesday as the Canadian currency weakens marginally USDCAD Price Chart, Five-Minute Timeframe (April 22-23, 2019) Chart by IG (You can click on it for a larger image...