Oil prices are slightly unchanged with a downward bias based on signals that the U.S. and China were having difficulty in their efforts to break the impasse. China has pledged to improve its property rights while the remaining differences such as
Beijing’s pledging to buy American grain and meat, and open China’s economy more to foreign companies. Meanwhile U.S. equities climbed to records on optimism over China trade relations and a fresh wave of merger and acquisition activity. The dollar was mixed. Equity markets took a more positive view of China’s tightened intellectual property rules, plus merger and acquisition activities have picked up, giving equities room to move higher.
The Canadian dollar is slightly unchanged as well, appears to be following oil prices rather than the positive momentum of equities, likely to remain ranged bound.
Currently Close Range
USDCAD 1.3305 1.3302 1.3285-1.3319
EURCAD 1.4655 1.4659 1.4639-1.4670
GBPCAD 1.7150 1.7070 1.7073-1.7188