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Markets

C$ edges higher, oil price rebound supports

Published November 12, 2018 Updated November 12, 2018 09:05pm
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By Shoaib Ur RehmanReuters
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The Canadian dollar edged higher against a broadly stronger US dollar on Monday, supported by a bounce in the price of oil, but remained close to the multi-month low touched on Friday.

The price of oil, one of Canada's major exports, rose by about 1 percent on Monday, set for its largest one-day increase in about a month after Saudi Arabia said OPEC and its partners believed demand was softening enough to warrant an output cut of 1 million barrels per day.

 

Copyright Reuters, 2018
 

 

 

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