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Canadian dollar pulls back from one-month high against in-favour greenback

Currency & FXEnergy Markets & PricesCommodities & Raw MaterialsGeopolitics & WarInvestor Sentiment & PositioningMarket Technicals & Flows

The Canadian dollar pulled back from a near one-month high versus the U.S. dollar but extended recent gains against some other G10 currencies after a spike in oil prices. The oil move, driven by the Middle East war, weighed on investor sentiment and influenced FX flows, boosting commodity-linked CAD versus peers.

Analysis

The Canadian dollar pulled back from a near one-month high versus the U.S. dollar but extended recent gains against some other G10 currencies after a spike in oil prices. The oil move, driven by the Middle East war, weighed on investor sentiment and influenced FX flows, boosting commodity-linked CAD versus peers.

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