Canadian dollar rises as oil prices rebound

Canadian dollar rose against greenback on Thursday as oil prices rebounded amid speculations about the Federal Reserve and central banks around the world to cut interest rates.

In his semi-annual testimony before the US Congress, the head of the central bank, Jerome Powell, stressed the risks and uncertainties that put pressure on the US economy, including trade disputes and the slowing global economic growth.

In the crude market, by 15:57 GMT, West Texas rose by 0.3% to $60.3 per barrel, with the highest at $60.7 and the lowest at $59.9.

Brent climbed 0.4% to $66.8 per barrel, and recorded a high of $67.2 and a low of $66.5.

In terms of trade, by 16:16 GMT, CAD/USD rose by 0.3% to 0.7674, and recorded the highest price at 0.7686 and the lowest price at 0.7644.