West Texas Intermediate (WTI) Oil price falls on Friday, early in the European session. WTI trades at $62.43 per barrel, down from Thursday’s close at $62.65.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $64.83 after its previous daily close at $65.05.
The Canadian Dollar (CAD) is steady, holding near yesterday’s high against the US Dollar (USD). The BoC’s 'dovish hold' outcome yesterday was largely as expected, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The hard US data still looks pretty good and that there are no real signs of the feared stagflation yet. This is hardly surprising, as most tariffs have been suspended for 90 days, so markets are unlikely to see any effects until the tariffs are actually put in place.