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Forex News: Canadian Dollar Advances On Higher Oil Prices

Canadian Dollar Advances On Higher Oil Prices

01/04/2018 - 03:34:00 (RTTNews)

(RTTNews) - The Canadian dollar climbed against its most major rivals in early European deals on Thursday, as oil prices rose amid unrest in Iran.

Crude for February delivery rose $0.46 to $62.09 per barrel.

Reversing from an early 2-day low of 1.2555 against the greenback, the loonie advanced to 1.2516.

The loonie hit a 2-day high of 89.97 against the yen, off its early low of 89.70.

The loonie ticked up to 1.5052 against the euro, following a decline to 1.5075 at 8:30 pm ET.

If the loonie rises further, it may find resistance around 1.23 against the greenback, 90.5 against the yen and 1.49 against the euro.

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