Crude Oil — News Archive


Canadian Dollar Drops for Second Day

The Canadian dollar dropped against its US counterpart today, falling for the second consecutive day, as geopolitical tensions were mounting. The loonie declined against other most-traded peers as well due to the drop of crude oil prices.

USD/CAD Demonstrates Bearish Trend Ahead of FOMC Rate Decision

The USD/CAD currency pair today traded with a bearish trend despite the release of positive Consumer Price Index data and advance retail sales data from the US docket. The Canadian dollar’s rally was largely sustained by the higher crude oil prices in the global commodities market with the WTI crude oil gaining at least 1.5% earlier today.

Canadian Dollar Falls, Trims Losses After Fed Minutes

The Canadian dollar fell on Wednesday due to the drop of crude oil prices and unfavorable domestic macroeconomic data. The currency managed to trim its losses after the release of policy minutes from the Federal Reserve.

Canadian Dollar Rises Against Rivals on Stable Oil Prices

The Canadian dollar rose against its US counterpart on Tuesday, as prices of oil, one of Canada’s main exports, remained steady. The Canadian currency got more strength following a report that showed an increase in average Canadian oil rig count.

Canadian Dollar Falls vs. Euro & Yen Following Drop of Crude Oil

The Canadian dollar fell against such currencies as the euro and the Japanese yen today due to the sharp drop of crude oil prices. The loonie managed to gain on the US dollar, which was rather soft on Monday.

US Dollar Weakens Against Canadian Dollar Backed by Higher Oil Prices

The US dollar weakened against the Canadian dollar during Monday’s trading session following a rally in oil prices. Global oil prices rose significantly following the announcement that the meeting between Organization of the Petroleum Exporting Countries and non-OPEC countries was successful.

Norwegian Krone Rallies After Non-OPEC Producers Join Output Cuts

The Norwegian krone joined the rally against the US dollar together with other currencies of oil-producing countries after the meeting between OPEC and non-OPEC producers on the weekend.

Canadian Dollar Gets Help from Positive Employment Report

The Canadian dollar rose against most of its major peers (with the exception of the Japanese yen) with the help of rather positive employment data released from Canada over the trading session.

Canadian Dollar Continues to Receive Support from Skyrocketing Oil Prices

The Canadian dollar continued to rally against its major rivals today, demonstrating especially big gains against the weak US dollar, as the OPEC oil production cut propelled oil prices higher.

Canadian Dollar Follows Crude Oil to Upside, Rally in Danger

The Canadian dollar rallied against most of major peers on Monday, tracking the rise of crude oil prices. There is a decent probability, though, that the crude’s rally will fizzle soon, dragging the loonie down.