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Canadian dollar as coronavirus crisis escalates
The Canadian dollar fell on Tuesday, amid concerns over the coronavirus crisis, which led to the return of lockdown restrictions in some countries.
The Canadian dollar was also pushed down by oil prices, which fell today despite a technical committee from OPEC+ recommended delaying any increase in output to face the coronavirus impact on demand.
The number of Covid-19 infections rose to more than 54 million cases globally, which led countries such as Britain and France to reimpose lockdown restrictions.
From the oil market, WTI crude December futures fell 0.8% to $40.9 a barrel as of 17:05 GMT, after hitting a high of $41.6 and a low of $40.5.
Brent January futures fell 1.1% to $43.3 a barrel, after hitting a high of $44.2 and a low of $43.08.
As of 17:20 GMT, CAD/USD fell 0.3% to 0.7630, with a high of 0.7655 and a low of 0.7624.
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