WTI tumbles 5% on renewed hopes of the Strait of Hormuz reopening

WTI tumbles 5% on renewed hopes of the Strait of Hormuz reopening

West Texas Intermediate (WTI) – the US oil benchmark – has witnessed a steep bearish opening gap on Monday, now losing nearly 5%, on its way to surrendering the $90 threshold. The sell-off in the black gold is fuelled by the renewed optimism over a likely reopening of the Strait of Hormuz, which could ease […]

Canadian Dollar weakens as US-Iran uncertainty and hawkish Fed bets support Greenback

Canadian Dollar weakens as US-Iran uncertainty and hawkish Fed bets support Greenback

The Canadian Dollar (CAD) remains on the defensive against the US Dollar (USD) on Friday as traders look past stronger Canadian Retail Sales figures and keep their attention on developments surrounding US-Iran negotiations. At the time of writing, USD/CAD is trading around 1.3818, its highest level since April 13. Data released by Statistics Canada showed […]