Forex

Canadian dollar rises as oil rebounds

2020-03-25 18:32:08 GMT (Economies.com)

The Canadian dollar rose against most of its major counterparts today, lifted by a recovery in oil prices and stock markets.

 

White House officials confirmed that an agreement has been reached with the US Congress on the $2 trillion stimulus aid package.

 

The package is aimed at providing support for US companies, industries and families to ease the coronavirus impact.

 

In the oil market, WTI crude rose by 1.8% to trade $24.4 a barrel as of 16:51 GMT, with an intraday high of $25.2 and a low of $22.9.

 

Brent rose 0.1% to $27.1 a barrel, after it hit a high of $28.2 and a low of $25.6.

 

As of 17:06 GMT, CAD/USD rose 1.2% to 0.6995, with a high of 0.6999, and a low of 0.6904.

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