Canadian dollar strengthens as rising oil prices and narrowing yield spreads provide support

The Canadian dollar rose 0.1 percent on Wednesday as crude oil prices rallied for a fifth consecutive day. This recovery comes amid shifting bond yields.

洞察:
The Canadian dollar strengthened on Wednesday, recovering from a five-week low as rising commodity prices and shifts in the bond market provided fresh support. Canada CACAsaw its currency trade at 1.3875 per U.S. dollar, a 0.1 percent increase from the previous session. This rally follows a period of downward pressure where the loonie touched 1.3920 against the greenback, its lowest level since early December, just last Friday.
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. REUTERS/Mark Blinch (CANADA - Tags: BUSINESS)
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. REUTERS/Mark Blinch (CANADA - Tags: BUSINESS)
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