img CDN
img AUS
img NZ
img US
Call us now: 1.844.363.7297
imgOnline Dealing Login

USD/CAD Moves Higher on Korean Tensions; Oil is Up

Published May 2, 2017
  • USD/CAD continues to move near the psychologically important 1.3700 resistance level; tensions in North Korea are prompting investors to move towards safe-haven currencies and away from commodity currencies
  • US President Donald Trump stirred markets after he commented that he would be open to meeting with North Korea’s Kim Kong Un
  • Oil prices moved higher on reports that OPEC oil output fell for a fourth straight month in April; Saudi Arabia cut production below their assigned target while disruptions in Libya and Nigeria also slowed down global output
  • Data to be released on US vehicle sales later this afternoon; vehicle sales serve as a marker for US consumer buying sentiment
  • Investors look towards the May FOMC meeting tomorrow; the Federal Reserve is likely to hold rates at 0.75%-1.00%