Canadian Dollar Rises Against U.S. Dollar, Euro
October 09 2023 - 7:39AM
RTTF2
The Canadian dollar strengthened against the U.S. dollar and the
euro in the New session on Monday, as oil prices rallied amid
concerns about potential disruptions to global oil supplies in the
wake of an escalating conflict in the Middle East.
Oil prices jumped nearly 4 percent as clashes between Israeli
and Hamas forces raised the risk of a wider Middle East
conflict.
The loonie appreciated to a 1-week high of 1.3612 against the
greenback and a 5-day high of 1.4356 against the euro, up from its
early lows of 1.3679 and 1.4441, respectively. The loonie is seen
finding resistance around 1.33 against the greenback and 1.42
against the euro.
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