Prime News: Canadian dollar dwindles as US dollar, oil prices surge

The Canadian dollar eased Monday as US dollar strengthened following Federal Reserve’s decision not to raise interest rates and crude price rallied.

Oil prices ended at $46.68 a barrel, up 4.48%.

The loonie ended at 75.50 US cents from Friday’s 75.66 US cents.

Everyone is still mulling the Fed. Given the hawkish stance of certain officials recently, “that is pretty much helping to boost the US dollar,” said David Tulk, Chief Canada Macro Strategist at TD Securities.

Meanwhile, Canadian retail sales for July will be released Wednesday.

The material has been provided by InstaForex Company – www.instaforex.com

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