FOREX TradingCharts.com
HOMECHARTS & QUOTESFOREX NEWSFOREX QUOTESLEARN FOREXFOREX BROKER LISTBOOKMARKFEEDBACK

Forex News: Canadian Dollar Falls As Crude Oil Prices Slump

Canadian Dollar Falls As Crude Oil Prices Slump

06/12/2026 - 08:16:00 (RTTNews)

(RTTNews) - The Canadian dollar weakened against other major currencies in the European session on Friday, as crude oil prices slumped over 4 percent after U.S. President Donald Trump called off new military strikes on Iran and said a peace deal could be signed in a few days, helping ease fears of escalation.

According to Iran's Mehr News Agency, a memorandum on resolving the conflict consists of 14 points and includes a set of coordinated provisions.

Brent crude futures for August delivery plunged 4.2 percent to $86.56 a barrel, while WTI crude futures for July delivery were down 4.3 percent at $83.95.

U.S. President Trump claimed an agreement to end the war with Iran had been reached and would be signed shortly, possibly in Europe this weekend with Vice President JD Vance attending on his behalf.

Trump also said the Strait of Hormuz would officially reopen once the Iran deal was signed and that Iran will never have a nuclear weapon.

Iran, however, maintained a tough stance and pushed back against optimistic remarks from Trump.

Iranian officials insisted that no final decision has been made and that key differences remain unresolved. In the European trading today, the Canadian dollar fell to nearly a 2-month low of 1.6201 against the euro and a 4-day low of 0.9859 against the Australian dollar, from early highs of 1.6162 and 0.9821, respectively. If the loonie extends its downtrend, it is likely to find support around 1.63 against the euro and 0.99 against the aussie.

Against the U.S. dollar and the yen, the loonie edged down to 1.3996 and 114.42 from early highs of 1.3971 and 114.73, respectively. The loonie may test support around 1.40 against the greenback and 113.00 against the yen.

Looking ahead, Canada capacity utilization data for the first quarter and new motor vehicle sales for April, U.S. University of Michigan's consumer sentiment for June and U.S. Baker Hughes oil rig count data are slated for release in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2026 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Yen Rises Amid Intervention Risks (05 hr(s), 07 min(s), 14 sec(s) ago)
(RTTNews) - The Japanese yen strengthened against other major currencies in the European session o ...Full Story»
U.S. Dollar Eases Against Most Majors (06 hr(s), 28 min(s), 14 sec(s) ago)
(RTTNews) - The U.S. dollar retreated against its most major counterparts in the New York session ...Full Story»
Yen Rises Against Majors (07 hr(s), 01 min(s), 14 sec(s) ago)
(RTTNews) - The Japanese yen strengthened against other major currencies in the European session o ...Full Story»
U.S. Dollar Inches Higher Amid Ongoing Fed Rate Hike Bets Despite Decline In Crude Oil Prices (16 min(s), 46 sec(s) ago)
(RTTNews) - The U.S. Dollar value edged higher as investors assessed the ongoing bets on rate hike ...Full Story»
Euro Falls As Eurozone Inflation Slows (03 hr(s), 31 min(s), 14 sec(s) ago)
(RTTNews) - The euro weakened against other major currencies in the European session on Wednesday, ...Full Story»
Euro Falls Against Majors (03 hr(s), 55 min(s), 13 sec(s) ago)
(RTTNews) - The euro weakened against other major currencies in the European session on Wednesday. ...Full Story»
Pound Rises Against Majors (04 hr(s), 40 min(s), 14 sec(s) ago)
(RTTNews) - The British pound strengthened against other major currencies in the European session ...Full Story»
U.S. Dollar Drops Against Most Majors (06 hr(s), 28 min(s), 14 sec(s) ago)
(RTTNews) - The U.S. dollar fell against its most major counterparts in the New York session on Tu ...Full Story»
Search

FOREX NEWS

Yen Rises Amid Intervention Risks

07/02/2026 - 07:38 AM (RTTNews)
(RTTNews) - The Japanese yen strengthened against other major currencies in the European session o ...Full Story>>

U.S. Dollar Eases Against Most Majors

07/02/2026 - 06:15 AM (RTTNews)
(RTTNews) - The U.S. dollar retreated against its most major counterparts in the New York session ...Full Story>>

Yen Rises Against Majors

07/02/2026 - 05:42 AM (RTTNews)
(RTTNews) - The Japanese yen strengthened against other major currencies in the European session o ...Full Story>>

U.S. Dollar Inches Higher Amid Ongoing Fed Rate Hike Bets Despite Decline In Crude Oil Prices

07/01/2026 - 17:00 PM (RTTNews)
(RTTNews) - The U.S. Dollar value edged higher as investors assessed the ongoing bets on rate hike ...Full Story>>

Euro Falls As Eurozone Inflation Slows

07/01/2026 - 09:13 AM (RTTNews)
(RTTNews) - The euro weakened against other major currencies in the European session on Wednesday, ...Full Story>>
USDCAD
Economic CalendarForex GlossaryForeign Exchange RatesForex Currency TradingForex ChartsCurrency FuturesPrivacy Policy Translate AdvertiseContact Us

Do not sell my personal information

Copyright © 2026. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.