Forex
Canadian Dollar Falls Amid Trade Tensions and Rising Oil Prices
The Canadian Dollar is weakening due to deteriorating risk sentiment and widening CAD/US interest rate differentials, moving further in favor of the US dollar.
The ongoing Ottawa-Washington trade tensions are another weight on the loonie, with a series of US tariffs on Canadian goods set to take effect tomorrow.
WTI oil traded in a $92.70-$96.53 range before easing to $95.75 in early New York trading, while Iranian Foreign Minister Araghchi proposed a seven-day ceasefire linked to reopening the Strait of Hormuz, which Trump rejected.