The Canadian Dollar is treading water after an extended weekend. Crude Oil is seeing thin action for Tuesday, sapping momentum from the Loonie. The broad-market focus remains on Gaza Strip geopolitics. ends. The pair set an early-day low of 1.3569 before rebounding to 1.3617, and the USD/CAD is now bouncing around the middle, testing below 1.3580.
Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar are the level of interest rates set by the Bank of Canada , the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports.
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Crude Oil Reverses Recent Losses as Markets Recalibrate after Israeli InvasionWTI crude oil ran higher today along with the US Dollar as markets contemplate the consequences of the hostilities toward Israel over the weekend. Will it drive WTI higher?
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