Forex News: Canadian Dollar Advances As Oil Prices Rise

Canadian Dollar Advances As Oil Prices Rise

(RTTNews) - The Canadian dollar firmed against its most major counterparts in the New York session on Tuesday, as oil prices advanced amid ongoing Israel-Iran conflict.

Trump stepped up his rhetoric against Iran's supreme leader and called for unconditional surrender.

"We know exactly where the so-called 'Supreme Leader' is hiding," Trump said in a social media post. "He is an easy target, but is safe there - We are not going to take him out (kill!), at least not for now. But we don't want missiles shot at civilians, or American soldiers. Our patience is wearing thin."

Traders awaited the Federal Reserve's interest rate decision due on Wednesday. The central bank is widely expected to keep interest rates unchanged.

The loonie climbed to a 6-day high of 1.5645 against the euro. The currency may find resistance around the 1.55 level.

The loonie edged up to 0.8821 against the aussie, from an early 4-day low of 0.8882. The currency is poised to find resistance around the 0.86 level.

The loonie held steady against the yen and was trading at 106.49. This may be compared to an early 4-month high of 106.89.

In contrast, the loonie weakened to a 4-day low of 1.3643 against the greenback. If the currency falls further, it is likely to find support around the 1.38 level.

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