Commerzbank’s commodity team, led by Barbara Lambrecht, notes that Oil volatility has risen as markets watch US–Iran talks and updated forecasts from the IEA, EIA and OPEC.
The USD/CAD pair trades with mild losses near 1.3685 during the early European session on Friday. The US Dollar (USD) softens against the Canadian Dollar (CAD) amid weaker-than-expected US economic data and a rise in crude oil prices.
The Indian Rupee (INR) remains broadly unchanged against the US Dollar (USD) at around 90.35, despite the Reserve Bank of India’s (RBI) monetary policy announcement, in which it has left the Repo Rate unchanged at 5.25%, as expected.