The loonie bounced gainst the US dollar today and marked a
one-week high during today’s session, mostly supported by the rising oil prices.
USD/CAD moved down with 0.51% and currently is
trading at 1.2843.
The
unexpected decline of US weekly crude oil inventories warmly hugged the Canadian
dollar.
The report that was released today shows that reserves had fallen by
3.4 mln barrels in previous week. Surprisingly these figures trapped traders
and this failure turned into advantage for oil prices.
WTI futures traded with 3% higher $46 per barrel. Brent jumped
with 3.56% to trade at $47.14 per
barrel, twisting earlier in the day around $45.20.
No comments:
Post a Comment