Crude Oil Breaks $90 – Lifts Loonie

An increase in the price of crude helped lift the Canadian dollar 0.2 percent to CA$1.155 per US dollar by 8:00 am in Toronto this morning. This ended a four-day losing streak against the US greenback.

“Gold and oil are better supported with crude oil peeking up over $90 a barrel again, helping provide some additional upside to the Canadian dollar,” Sacha Tihanyi, a currency strategist in Toronto at Bank of Nova Scotia’s Scotia Capital unit

Source: Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.