Commodities
CAD Gains Amid Escalating Trade Tensions and Oil Price Surge
The Canadian Dollar (CAD) has gained strength in recent days due to elevated oil prices and escalating US trade sanctions.
Economic tensions have been rising between the US and Canada, with the US imposing tariffs on select Canadian products, including alcohol, dairy, and motor vehicles, as part of a retaliatory measure against Canada's counter-tariffs on imported American goods.
The price of crude oil has also surged following a US strike on several Iranian tankers near Kharg Island, a major export hub, which has heightened geopolitical tensions and stoked market concerns about potential disruptions to global oil supplies.