Forex News: Canadian Dollar Higher As US-China Trade Talks Lift

Canadian Dollar Higher As US-China Trade Talks Lift Sentiment

(RTTNews) - The Canadian dollar was higher against its most major counterparts in the New York session on Monday, as investors awaited outcome of trade talks between the US and China that kicked off in London.

The talks are aimed to iron out the trade dispute between the world's biggest economies.

The Wall Street Journal reported that Trump granted US negotiators flexibility to lift technology export controls to China as talks got underway.

Oil prices rose amid optimism about trade talks taking place in London.

The loonie recovered to 1.3670 against the greenback, from an early 5-day low of 1.3707. The currency may find resistance around the 1.35 level.

The loonie recovered against the yen and was trading at 105.65. The currency is poised to find resistance around the 107.00 level.

The loonie reached as high as 1.5587 against the euro before retreating to 1.5637. At last week's close, the pair was quoted at 1.5606.

In contrast, the loonie held steady against the aussie and was trading at 0.8922. This may be compared to an early 2-week low of 0.8933. At last week's close, the pair was quoted at 0.8892.

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