Trump Offer Sparks WTI Price Plummet as USD Opens on Mixed Note
The Canadian dollar remains directionless as the US dollar opens on a mixed note. The CAD/US interest rate differential continues to weigh on the currency, while a decline in WTI prices is also having an impact.
WTI prices plummeted to $92.71 after reports that Trump offered to meet with Iranian President Masoud Pezeshkian at the UN General Assembly. This sharp turnaround came despite Iran's Houthis targeting a Saudi Aramco facility in Yanbu with drones and missiles.
The Bank of Canada Governor Tiff Macklem is set to address economic developments in Halifax today, but no significant Canadian or US economic releases are scheduled for today.