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Industry: Email Alert RSS FeedCanadian Forex/Bond Review: C$ Strengthens.
Resource News International, September, 2005
Winnipeg, MB, Sep 28, 2005 (Resource News International via COMTEX) -- The Canadian dollar finished Wednesday's North American trading session stronger, rallying late in the day as oil prices rose, market watchers said.
The Canadian currency closed out the North American session at 85.23 US cents (C$1.1729) on Wednesday. This compares with Tuesday's closing mark of 84.93 US cents (C$1.1775).
The US Department of Energy announced Wednesday that US crude oil stocks had fallen more than expected to 305.7 million barrels last week. The news sparked a rally in world oil prices, which in turn enabled the Canadian dollar to strengthen, currency watchers said.
Oil prices and technical positioning are expected to be the main factors in the direction...
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