Canadian dollar a little weaker, oil prices still low

By MoneyWay | Nov 19, 2018

il prices slid to near $55 a barrel as the dollar strengthened and Russia still stayed on the fence on whether it would commit to more production cuts with its OPEC allies. OPEC ministers are scheduled to meet in Vienna on Dec. 6, with allies from outside the group joining talks the next day. In Moscow on Monday, Russian Energy Minister Novak said he wants them to “make a balanced decision, and so far there are no criteria for it.”

The Canadian dollar is weaker based not just on lower oil, but also markets are refocusing on global trade, especially U.S./China, more trade fights seem to be looming on the horizon and uncertainty makes traders nervous.

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