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Forex

Loonie Climbs as Crude Oil Prices Spike Amid Iran Conflict

Guavy AI Editorial Team
Instruments
CAD
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The Canadian dollar experienced a slight increase on Thursday against its US counterpart.

The loonie finished at US$0.7214 or US$1=C$1.3861, compared to US$0.7207 or US$1=US$1.3876 on Wednesday.

The strengthening of the Canadian dollar was in line with a rise in crude oil prices after the US confirmed it was not currently negotiating with Iran to end their conflict.

West Texas Intermediate increased by US$1.43 per barrel at US$83.66, while Brent crude oil rose US$1.89/barrel at US$89.73.

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