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Canadian Dollar extends gains, dragged higher by rising Crude Oil prices on Gaza Strip escalation

From fxstreet.com

The Canadian Dollar (CAD) is finding some lift on Monday, extending the Loonie’s rebound against the US Dollar (USD). The USD/CAD is trading back into familiar territory after tapping into a seven-month high last week on broad-market risk aversion flows that sent investors piling into the safe haven Greenback. Canada is taking Monday off for the Thanksgiving national holiday, but geopolitical tensions around the Gaza Strip have sent global markets into an alert state. Crude Oil prices have lept higher on Middle East stability concerns, helping to prop up the oil-backed Loonie. Daily Digest Market Movers: Canadian ... (full story)

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  • Category: Fundamental Analysis