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Forex

ICE Canola Falls Amid Vegetable Oil Decline

Guavy AI Editorial Team
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CAD
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Canola futures on the ICE Intercontinental Exchange were under pressure for the second straight session on Thursday morning, weighed down by declining vegetable oil prices. Chicago soyoil lost over one US cent per pound, while European rapeseed and Malaysian palm oil also fell. However, crude oil prices improved slightly due to ongoing uncertainty between the U.S. and Iran.

The Canadian dollar rose by three-tenths of a U.S. cent compared to Wednesday's close, with the Bank of Canada maintaining its key interest rate at 2.25 percent.

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