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​The Canadian dollar fell against its major counterparts in the Asian session on Thursday

2018-05-24 08:27 am | Resource: NEWS | No Views : 245



The Canadian dollar fell against its major counterparts in the Asian session on Thursday, after official data showed an unexpected drop in US crude stocks last week.

Crude for July delivery fell $ 0.26 to $ 71.58 a barrel and data from the Energy Information Administration showed Wednesday that US oil inventories jumped by 5.8 million barrels, compared to expectations of a reduction of 2 million barrels.

Gasoline stocks have also risen, oil prices have been affected by fears that OPEC's oil supply may increase in June, and OPEC ministers in Russia will attend the main energy conference to discuss the issue.

The Canadian dollar fell to 85.09 against the yen, from a high of 85.78 at 5:00 Eastern Time. On the downside, 84.00 is likely to be seen as the next support for the Canadian dollar.

And reversed the Canadian dollar from an early high of 0.9695 against the Australian dollar, down to 0.9727. The next potential support for the Canadian Fund is around 0.99.

The Canadian dollar weakened to 1.5061 against the euro, after advancing to 1.5005 at 5:00 Eastern Time. If the CAD continues to fall, 1.52 is likely to be seen as the next support level.

The Canadian dollar remained steady at 1.2850 against the US dollar, after retreating from a high of 1.2829 at 7:15 pm Eastern Time. It is likely to see major support coming from the Canadian dollar around the 1.30 level.


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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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