Loonie rises as oil prices recover

2019-05-20 18:47:16 GMT (Economies.com)
Loonie rises as oil prices recover

Canadian dollar rose against its US counterpart during today's trading as the oil prices recovered as well as the resumption of US-China trade war concerns.

 

After the announcement of a mutual increase in tariffs between the US and China, the dispute escalated to the point where US companies are now banned from dealing with the Chinese company, Huawei.

 

Google has already responded to the decision by deciding to suspend business with Huawei, including blocking the availability of Android OS updates on Huawei's mobile phones and computers.

 

Leading to the oil market, by 15:46 GMT, West Texas rose by 0.6% to $63.1 a barrel, with a high of $63.8 and a low of $62.4.

 

Brent rose 0.2% to $72.3 a barrel, with a high of $73.4 and a low of $72.05.

 

In terms of trading, by 16:03 GMT, the Canadian dollar rose against the Greenback by 0.1% to 0.7444, with the highest price at 0.7458 and the lowest price at 0.7426.

 
 
 
  Symbol Last Change Chg.%
1.1216
-0.0002
0.0223%
1.2631
0.0048
0.3783%
14.979
0.111
0.747%
53.650
1.140
2.171%
61.95
-0.16
0.26%
1346.245
4.965
0.370%
 
 
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