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Aloris FX Update, Wednesday April 8, 2015

Posted April 08, 2015

Under Economic Issues

The Canadian Dollar is up against the US Dollar this morning to the best levels seen in about 6 weeks. The CAD appreciation is largely due to increasing oil prices and weakened U.S. labour data. Oil prices remain close to $53/barrel this morning even after Saudi Arabia announced that their production of oil was the highest on record during the month of March. As well, U.S. unemployment numbers have disappointed recently which has significantly lowered the probability of an interest rate increase by the U.S. Fed anytime soon. Expect some added volatility over the week ahead of next Wednesday's Bank of Canada interest rate decision.

Update Courtesy of: Johny Nusbaum | Aloris Mercantile Corp | Toll Free: 1-800-298-1231