» Canadian Dollar Receives Support from Oil Prices in Forex Trading

Loonie retains its position in currency tradingThe Canadian dollar continues to remain in the area of parity with the US dollar in forex trading on the currency market. The loonie receives a great deal of support in currency trading from oil prices.

Canada is the largest exporter of oil to the U.S., and has large oil reserves. As a commodity currency, the loonie depends on its exports and natural resources for support in currency trading on the FX market.

See Also

• Loonie in Currency Trading
  Forex trading on the currency market

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