Canadian dollar hits two-week high as Middle East truce lifts sentiment

The Canadian dollar strengthened to a two-week high versus the U.S. dollar as investors reacted to hopes that the Middle East ceasefire will hold and ahead of domestic jobs data. The move suggests a modest risk-on shift in FX flows, but further direction depends on the upcoming Canadian labour-market report.

Analysis

The Canadian dollar strengthened to a two-week high versus the U.S. dollar as investors reacted to hopes that the Middle East ceasefire will hold and ahead of domestic jobs data. The move suggests a modest risk-on shift in FX flows, but further direction depends on the upcoming Canadian labour-market report.