Canadian Dollar Slides As Oil Prices Drop

RTTNews | hace 101
Canadian Dollar Slides As Oil Prices Drop

(RTTNews) - The Canadian dollar weakened against most major currencies in the Asian session on Monday, as the crude oil prices fell due to fears of a U.S. recession mounted amid the tariff turmoil.

Crude oil prices moved lower amid easing concerns about sanctions on Iranian oil exports after progress in nuclear negotiations between the U.S. and Iran. West Texas Intermediate crude for May delivery slipped $1.09 or 1.7 percent to $63.60 a barrel.

Trade worries mounted after U.S. President Donald Trump on Easter Sunday posted about a 'non-tariff cheating' list, warning trade partners of non-tariff-related offenses that could spoil relations with the United States.

Meanwhile, China has warned it will hit back at countries that make deals with the U.S. that hurt Beijing's interests.

The comments came after reports that the U.S. plans to pressure governments to restrict trade with China in exchange for exemptions to U.S. tariffs.

In economic news, the People's Bank of China left its interest rates unchanged for the sixth successive session on Monday.

The central bank retained its one-year loan prime rate at 3.10 percent. Likewise, the five-year LPR, the benchmark for mortgage rates, was 3.60 percent, unchanged from the previous month. The decision matched expectations.

In the Asian trading today, the Canadian dollar fell to a 5-day low of 0.8868 against the Australian dollar, from Friday's closing value of 0.8828. The loonie is likely to find support around the 0.91 region.

Against the yen and the euro, the loonie slipped to near 2-week lows of 101.87 and 1.5915 from last week's closing quotes of 102.66 and 1.5774, respectively. If the loonie extends its downtrend, it is likely to find support around 100.00 against the yen and 1.60 against the euro.

Looking ahead, U.S. Consumer Board's leading index for March is slated for release in the New York session.

read more
Yen Rises After BoJ Rate Decision

Yen Rises After BoJ Rate Decision

The Japanese yen strengthened against other major currencies in the Asian session on Thursday, following the Bank of Japan's decision to increase its inflation forecast for the fiscal year while maintaining steady interest rates.
RTTNews | hace 7h 21min
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Thursday.
RTTNews | hace 7h 47min
Yen Rises Ahead Of Fed And BoJ Policy Decisions

Yen Rises Ahead Of Fed And BoJ Policy Decisions

The Japanese yen strengthened against other major currencies in the Asian session on Tuesday, as traders remain cautious ahead of Federal Reserve and Bank of Japan policy decisions.
RTTNews | hace 1
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Wednesday.
RTTNews | hace 1
Euro Falls Against Majors

Euro Falls Against Majors

The euro weakened against other major currencies in the pre-European session on Tuesday.
RTTNews | hace 2
Commodity Currencies Slide As Traders Remain Cautious

Commodity Currencies Slide As Traders Remain Cautious

The commodity currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major counterparts in the Asian session on Friday, as traders are cautious and optimistic that the U.S. will sign up more deals with its remaining trading partners before President Donald Trump's Aug. 1 deadline. The UK, China, Vietnam, and Indonesia have already struck deals, while Canada, India, South Korea, and the EU are ramping up their efforts.
RTTNews | hace 6