The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Investing.com -- The Canadian dollar edged lower against its U.S. counterpart on Thursday as investors weighed a surge in oil prices against renewed trade risks and awaited U.S. inflation data that could shape expectations for the Federal Reserve's next policy move.
The U.S. dollar was trading at about C$1.3808, leaving the loonie at roughly 72.42 U.S. cents. USD/CAD was up around 0.02% from Wednesday's close near C$1.3805, indicating a modest decline for the Canadian currency.
The move came as Brent crude held above $100 a barrel, supported by escalating U.S.-Iran hostilities and concerns over disruptions to energy flows through the Middle East. Brent was recently around $102 a barrel, while U.S. crude traded near $97.
Higher oil prices typically support the commodity-linked Canadian dollar because energy exports are an important source of Canada's trade income. That support, however, was being offset by broader risk aversion and continued uncertainty over Canada-U.S. trade relations.