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Canadian Dollar Falls as Oil Falls

2018-10-08 09:16 am | Resource: News | No Views : 276

 The Canadian dollar fell against the major currencies in early trading on Monday, as oil prices fell as the Canadian dollar is a currency linked to oil as oil is a key commodity in Canada's exports after Washington said it was considering some concessions on sanctions against Iran. Imports of Iranian oil.

 Where Brent crude prices fell more than 1 percent to less than $ 80 a barrel after a US government official said last week that he would grant exemptions to countries that tried to reduce Iran's oil supplies.

The undermining of oil prices has led to further reports that Saudi Arabia has replaced all of Iran's lost oil.

  • Oil for November delivery fell $ 0.50 to $ 73.84 a barrel.

Treasury bonds fell after the release of the monthly jobs report on Friday, extending the downward movement observed during the previous two rounds.

On the other hand, oil is back with bond prices climbing from their worst closing levels but staying flat in the negative territory. As a result, the yield on the benchmark 10-year index rose 2.8 basis points to 3.225 per cent.

As the day rallied, 10-year yields closed for a third straight session, reaching a seven-year closing high.

The continued weakness among Treasuries as traders interacted with mixed monthly employment data by the Ministry of Labor.

Canadian Dollar Movements

  • The Canadian dollar fell to a 10-day low of 87.60 against the yen, from an intraday high of 87.97. On the downside, 1.31 is likely to be seen as the next support levels for the Canadian dollar against the yen.
  • The Canadian dollar fell to its lowest level at 1.2991 against the dollar, from a high of 1.2936. On the downside, 1.31 is likely to be seen as the next support levels for the Canadian dollar versus the US dollar.
  • The Canadian dollar fell to a weekly low of 1.4942 against the euro as it pulled out of its previous high of 1.4906. The Canadian dollar may find support around 1.51 against the euro
  • The Canadian dollar fell to a 5-day low of 0.9164 against the Australian dollar, from a previous high of 0.9125 expected next support of the pair at 0.93 against the Australian dollar.

Other analysis

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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