Forex News: Canadian Dollar Appreciates Amid Risk Appetite

Canadian Dollar Appreciates Amid Risk Appetite

(RTTNews) - The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

US Commerce Secretary Howard Lutnick said that talks were going well and sought a breakthrough on export controls.

The S&P 500 added 0.29%, the Dow Jones Industrial Average edged up 0.14% and the Nasdaq Composite rose 0.25%.

Oil prices firmed amid hopes of a further de-escalation in trade tensions between the world's two largest economies.

The loonie advanced to a 4-week high of 106.03 against the yen and a 4-day high of 1.3668 against the greenback, from an early low of 105.32 and a 6-day low of 1.3728, respectively. The currency may find resistance around 108.00 against the yen and 1.34 against the greenback.

The loonie was trading at 1.5630 against the euro and 0.8920 against the aussie, up from an early 5-day low of 1.5667 and a fresh 2-week low of 0.8947, respectively. The currency is poised to find resistance around 1.52 against the euro and 0.86 against the aussie.

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