Canadian dollar rises, shrugs off oil losses

Loonie rose against the US dollar today, shrugging off oil losses, amid anticipation for the Federal Reserve rate decision and developments in the US-China trade talks.

The US Federal Reserve will unveil today on the interest rates, with most forecasts to keep it unchanged.

In the oil market, West Texas Intermediate (WTI) fell by 0.8% to $58.7 as of 17:26 GMT, and hit a session-high of $59.2, and a low of $58.1.

Brent fell by 1.2% to $63.5 a barrel, with a high of $64.2, and a low of $63.

As for trade developments between Washington and Beijing, talks are continuing to reach the phase one trade deal before mid-December, which is the deadline for the next US tariffs hike against China.

CAD/USD rose by 0.3% to 0.758 as of 17:43 GMT, and hit a high of 0.7586 and a low of 0.7548.