CAD flexes muscles on OPEC+ shocker

Canadian dollar piggybacks on higher crude prices The Canadian dollar has posted gains in Thursday’s North American session. Currently, USD/CAD is trading at 1.2633, down 0.15% on the day. The Canadian dollar has shown sharp gains today, as investors have snapped up the currency following a surprise OPEC announcement which sent oil prices sharply higher. Canada is a major oil producer, and the significant boost in oil prices is excellent news for the Canadian economy. Earlier in the day, USD/CAD fell as low as 1.2557, its lowest level since February 25. Oil prices jump as OPEC extends cuts There has been a stunning … (full story)

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