The battered Canadian dollar will stay weak in the coming months as the Bank of Canada and U.S. Federal Reserve look set to take completely different policy paths, a Reuters poll of currency strategists forecasts.
Oil prices fell more than 3 percent on Tuesday, with U.S. crude extending losses for a fifth straight day, as the dollar rallied amid evidence that the United States and top oil exporter Saudi Arabia were pumping more than the world needed.
Brent crude oil headed towards 2015 highs above $68 a barrel on Thursday after official data showed the first drawdown in U.S. crude inventories since January, evidence the market there is balancing after months of heavy oversupply.
Saudi-led aircraft pounded Iran-allied Houthi militiamen and rebel army units in central Yemen and the capital Sanaa on Monday, residents said, reporting that food and medical supplies were running low.
West Texas Intermediate fell from the lowest price in more than four years as Saudi Arabia’s oil minister said the price will stabilize by itself, while the United Arab Emirates said OPEC will do what it takes to balance the market.