FOREX TradingCharts.com

Forex News: Canadian Dollar Advances On Higher Oil Prices

Canadian Dollar Advances On Higher Oil Prices

05/09/2018 - 04:01:00 (RTTNews)

(RTTNews) - The Canadian dollar strengthened against its most major rivals in the Asian session on Wednesday, as oil prices advanced after U.S. President Donald Trump's decision to pull out of the Iran nuclear deal.

Crude for June delivery rose $1.44 to $70.50 per barrel.

Trump on Tuesday announced that the U.S. will withdraw from the landmark nuclear accord with Iran that was agreed in late 2015.

Trump said that the deal was "defective at its core" and the United States will reimpose nuclear sanctions on Iran.

The U.S. decision is likely to tighten crude supply in the global markets.

The loonie climbed to a weekly high of 0.9615 against the aussie, from a low of 0.9653 hit at 6:00 pm ET. On the upside, 0.95 is likely seen as the next resistance for the loonie.

The loonie that closed Tuesday's trading at 84.25 against the yen rose to 84.68. If the loonie continues its rise, 86.5 is possibly seen as its next resistance level.

Data from the Cabinet Office showed that Japan's leading index decreased more-than-expected at the end of the first quarter.

The leading index, which measures the future economic activity, dropped to 105.0 in March from 105.9 in February. The index was expected to fall to 105.1.

The loonie strengthened to a 2-day high of 1.5329 against the euro, after having fallen to 1.5375 at 8:15 pm ET. Next key resistance for the loonie is likely seen around the 1.51 level.

On the flip side, the loonie edged down to 1.2975 against the greenback, compared to 1.2947 hit late New York Tuesday. The next possible support for the loonie is seen around the 1.31 region.

Looking ahead, Canada building permits for March, U.S. PPI for April and wholesale inventories for March are due in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Little Changed Due To Lack Of Catalysts (13 min(s), 07 sec(s) ago)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Monday afternoon ...Full Story»

Euro Recovers Against Majors (13 min(s), 07 sec(s) ago)
(RTTNews) - The euro came off from its early lows against its major counterparts in early New York ...Full Story»

Pound Falls As Scottish PM Vows To Restart Scotland Independence Debate (58 min(s), 07 sec(s) ago)
(RTTNews) - The pound declined against its major counterparts in the European session on Monday, a ...Full Story»

U.S. Dollar Climbs On Easing Trade War Worries (40 min(s), 08 sec(s) ago)
(RTTNews) - The U.S. dollar strengthened against its major counterparts in early European deals on ...Full Story»

Yen Slides Amid Risk Appetite On Easing Trade Worries (43 min(s), 07 sec(s) ago)
(RTTNews) - The Japanese yen slipped against its major counterparts in Asian deals on Monday amid ...Full Story»

Yen Weakens Against Majors (01 min(s), 07 sec(s) ago)
(RTTNews) - The Japanese yen slipped against its major counterparts in pre-European deals on Monda ...Full Story»

Dollar Trading Mixed After Early Gains Erode (19 min(s), 07 sec(s) ago)
(RTTNews) - The dollar got off to a positive start Friday, but has since pared its early gains. Th ...Full Story»

Loonie Declines After Tame Canada Inflation Data, Dismal Core Retail Sales (25 min(s), 07 sec(s) ago)
(RTTNews) - The Canadian dollar fell against its major counterparts in the European session on Fri ...Full Story»

Search

FOREX NEWS

Dollar Little Changed Due To Lack Of Catalysts

05/21/2018 - 14:46 PM (RTTNews)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Monday afternoon ...Full Story>>

Euro Recovers Against Majors

05/21/2018 - 09:47 AM (RTTNews)
(RTTNews) - The euro came off from its early lows against its major counterparts in early New York ...Full Story>>

Pound Falls As Scottish PM Vows To Restart Scotland Independence Debate

05/21/2018 - 08:31 AM (RTTNews)
(RTTNews) - The pound declined against its major counterparts in the European session on Monday, a ...Full Story>>

U.S. Dollar Climbs On Easing Trade War Worries

05/21/2018 - 06:12 AM (RTTNews)
(RTTNews) - The U.S. dollar strengthened against its major counterparts in early European deals on ...Full Story>>

Yen Slides Amid Risk Appetite On Easing Trade Worries

05/21/2018 - 03:16 AM (RTTNews)
(RTTNews) - The Japanese yen slipped against its major counterparts in Asian deals on Monday amid ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.