USD/CAD stays firmer around 1.3400 as oil price declines, focus on US/Canada employment data – by anilpanchal7 USDCAD Oil Employment RiskAppetite Currencies
, Canada’s main export item.
“The OPEC+ meeting in December will take into account the condition and balance of the market,” Iraq's state news agency quoted Saadoun Mohsen, a senior official at the country's state oil marketer , as saying on Saturday. Elsewhere, the talks among the members of the Group of Seven Nations and the European Union continue to drag on the Russian oil price cap. As per the latest updates, the $65 per barrel is the sticking point as discussions are likely to resume on Monday.
It’s worth noting that the People’s Bank of China’s cutting of the Reserve Requirement Ratio by 25 basis points effective from December 5 joins the Covid woes to also propel the USD/CAD prices.
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