Canadian Dollar gains traction on rising oil prices as US-Iran war escalates

Canadian Dollar gains traction on rising oil prices as US-Iran war escalates

The USD/CAD pair attracts some sellers to near 1.4060 during the early European trading hours on Thursday. A rise in crude oil prices provides some support to the commodity-linked Canadian Dollar (CAD) against the US Dollar (USD). Traders brace for Canada’s Retail Sales data, which will be released later on Thursday.  Crude oil prices continued to […]

British Pound nudges higher above 1.3350 despite Middle East turmoil

British Pound nudges higher above 1.3350 despite Middle East turmoil

The GBP/USD pair rebounds to near 1.3385 during the Asian trading hours on Thursday. However, the potential upside for the major pair might be limited amid cooler-than-expected UK inflation data and escalating tensions in the Middle East. Traders will take more cues from the UK Retail Sales report, which is due later on Friday.  The […]

Yemen’s Houthis say they targeted two Saudi oil tankers

Yemen’s Houthis say they targeted two Saudi oil tankers

The Houthis, the Iran-backed group in Yemen, on Thursday claimed an attack on two Saudi oil tankers transiting through the Red Sea, identified as ENCELA and LAYLIA, saying the vessels violated ‌the ‌naval blockade imposed ‌by the group on Monday, the Guardian reported.  “We targeted two Saudi oil tankers, named ENCELA and LAYLIA, for their […]