Canadian Dollar Higher As U.S. Set To Tighten Iran Sanctions
April 21 2019 - 11:28PM
RTTF2
The Canadian dollar climbed against its major counterparts in
the Asian session on Monday, as oil prices rallied following a
media report that Washington is set to announce an end to sanction
waivers on Iranian crude imports today.
Crude oil prices jumped almost 3 percent after the Washington
Post reported that the U.S. is preparing to announce on Monday that
all importers of Iranian oil will have to end their purchases
shortly or face U.S. sanctions.
Crude for June delivery rose $1.41 to $65.47 per barrel.
Ending sanctions exemptions to Iranian oil buyers would further
tighten oil market.
Asian stock markets were mostly higher despite the absence of
fresh cues from Wall Street and European markets, which were closed
for the Good Friday holiday. The markets in Australia, New Zealand
and Hong Kong remained closed for the Easter Monday holiday.
The loonie appreciated to a 4-day high of 83.81 against the yen,
from a 6-day low of 83.51 touched at 5:30 pm ET. Next key
resistance for the loonie is likely seen around the 85.00
level.
The loonie, having fallen to 1.3391 against the greenback at
5:45 pm ET, reversed direction and climbed to a 4-day high of
1.3358. The loonie is poised to find resistance around the 1.32
level.
The Canadian currency advanced to a session's high of 1.5013
against the euro, following a decline to 1.5058 at 5:30 pm ET. The
loonie is likely to challenge resistance around the 1.49 level, if
it rises further.
The loonie spiked up to a 10-day high of 0.9534 against the
aussie, after falling to a session's low of 0.9577 at 5:00 pm ET.
The loonie is seen finding resistance around the 0.94 level.
Looking ahead, U.S. existing home sales for March are due at
10:00 am ET.
US Dollar vs CAD (FX:USDCAD)
Forex Chart
From Aug 2024 to Sep 2024
US Dollar vs CAD (FX:USDCAD)
Forex Chart
From Sep 2023 to Sep 2024