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Canadian Dollar Falls on Low Oil Prices

2018-10-11 01:08 pm | Resource: News | No Views : 234

 The Canadian dollar fell against its major counterparts in the European session on Thursday, as oil prices fell after a report on the increase of the US Treasury. The Canadian dollar was also affected by global concern as global equities fell

  • Oil for November delivery fell $ 1.16 to $ 72.01 per barrel.
  • Chinese yuan-denominated oil prices fell more than 3%
  • Crude futures for December delivery fell 3.05 percent, or 18.2 yuan, to finish at 574.2 yuan a barrel ($ 82.86).

Meanwhile, OPEC Secretary-General Mohamed Barkindo said on Thursday that oil producers were very concerned about excess production capacity as investment in the energy sector declined. "We are very concerned," said Barkindo, in response to a question on excess capacity in the light of continued decline in investment in the oil sector caused by the market's decline. Barkindo was speaking at the Oil and Money Conference in London and said earlier he wanted to ensure that there was no shortage of crude in the market.

The currency was also affected by risk aversion as investors continued to worry about rising yields on US Treasuries and the US-China trade war.

Canadian Dollar Trading

  • The Canadian dollar trimmed gains to 1.3062 against the US dollar, from a high of 1.3033
  • The Canadian dollar fell to a two-week low of 1.5104 against the euro, after advancing to 1.5032
  • The Canadian dollar fell to a nine-day low of 0.9258 against the Australian dollar, after rising to 0.9198
  • The Canadian dollar fell to 85.91 against the yen, heading for a break above the 3 week low at 85.77

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Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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