A combination of lower oil prices and the Federal election announcement has impacted the Canadian dollar. Opinion polls have the Liberals and Conservatives neck and neck this morning, markets hate the unknown, meanwhile oil plunged as U.S. President Donald Trump considered easing sanctions on Iran that severely restricted the OPEC member’s ability to export crude. Futures fell as much as 2.8% in London on Wednesday. Trump is expected to meet with Iranian President Hassan Rouhani later this month, according to people familiar with the matter. Such talks would be unprecedented for an administration that made isolating the Islamic Republic a cornerstone policy.
Equities have responded positively to this news, the Dow Jones Industrial Average is over 27,000 currently.
Currently Close Range
USDCAD 1.3203 1.3152 1.3140-1.3205
EURCAD 1.4519 1.4524 1.4458-1.4531
GBPCAD 1.6295 1.6243 1.6213-1.6299