Canadian dollar gains on higher oil prices, Chinese economy optimism GlobeInvestor
The Canadian dollar strengthened against its U.S. counterpart on Friday and was on track to end higher for the week as oil prices rose and data showed signs of stabilization in China’s economy.
Canada is a major exporter of commodities, including oil, so its economy could benefit from an improved outlook for global trade and growth.Oil prices rose on Friday as involuntary supply cuts from Venezuela, Libya and Iran supported perceptions of a tightening market, already underpinned by a production reduction deal from OPEC and its allies. U.S. crude oil futures were up 1.1 per cent at $64.27 a barrel.
The loonie made ground despite data showing Canadian home prices fell in March for the sixth straight month.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canadian dollar slips on lower oil prices, stronger greenbackCanadian dollar slips on lower oil prices, stronger greenback GlobeInvestor
Read more »
Canadian dollar hits 3-week high, on track to bolster April winning streakCanadian dollar hits 3-week high, on track to bolster April winning streak GlobeInvestor
Read more »
IMF says Canadian economy to grow at 1.5 per cent, lower than previous forecastCanada will not be immune to the lower-than-expected economic growth expected around the world this year, according to the International Monetary Fund.
Read more »
Canadian economy's six-month streak of job creation comes to an endThe Canadian economy's six-month streak of job creation -- that included a number of big gains -- came to an end in March.
Read more »
Canadians want Chinese dissident Wang Bingzhang nominated for Nobel Peace PrizeBrother of Wang Bingzhang, who has been jailed for 17 years, teams with activist Sheng Xue in bid to raise international awareness
Read more »
Shell enters Chinese shale oil industry, launching joint study with SinopecSinopec said on Monday it had agreed with Shell to study the Dongying trough of Shengli in China’s eastern province of Shandong
Read more »
Investors staying away from energy stocks despite Canadian oil’s huge rally‘When the underlying commodity doubles and the stocks up until recently have done nothing is a real source of frustration,’ says one senior portfolio manager
Read more »
Canadian home prices drop for sixth straight month in MarchThe Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices fell 0.3 per cent last month from February
Read more »
Global oil prices hit five-month highs amid OPEC supply cuts, U.S. sanctionsHowever, concerns remain regarding the health of the global economy, especially should China and the United States fail to resolve their trade dispute soon
Read more »
Stockholm’s syndrome: When a Canadian movie is Swedish, and a Swedish movie is CanadianStockholm’s syndrome: When a Canadian movie is Swedish, and a Swedish movie is Canadian GlobeArts
Read more »