Canadian dollar dips as Middle East tensions drive oil prices higher

Safe‑haven demand persists amid escalating Middle East tensions

CAD The Canadian dollar edged lower for a third consecutive session on Thursday, seeing USDCAD test .37 overnight. Investors were rattled by reports of continued blockades in the Strait of Hormuz, which drove crude prices higher and raised concerns about further inflationary pressures. Closer to home, Canadian producer prices jumped 2.4% in March on the back of higher energy and chemical prices, reinforcing the narrative that supply‑side shocks …

Canadian dollar dips as Middle East tensions drive oil prices higher

Rising oil prices due to geopolitical tensions could lead to economic shifts, impacting currency values and central bank policies globally. The post Canadian dollar dips as Middle East tensions drive oil prices higher appeared first on Crypto Briefing.