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    United States 2020-04-20 08:05:43
    Technical index Canadian Dollar Sinks as Crude Oil Prices and Stoc


    Canadian Dollar down as crude oil, stocks drop to start the week
    Anxiety ahead of key Q1 earnings reports maybe risk-off catalyst
    US Dollar buoyed by haven demand, anti-fiat gold prices lower
    The Canadian Dollar led the way lower among its G10 FX counterparts financial markets started the trading week in a defensive mood. Bellwether S&P 500 futures fell – pointing to a broadly risk-off disposition – as financial markets. Crude oil prices sank to the lowest level since 2001, which probably explains some of the Loonie’s outsized losses. The haven US Dollar traded broadly higher, pressuring anti-fiat gold prices.

    Investors’ dour disposition may reflect anxiety ahead of a busy week for corporate earnings report that look set to paint a bleak picture of the damage wrought by the coronavirus outbreak. Perhaps most worryingly for cyclical assets like stocks and commodity-linked currencies, early signs of stabilization in the Covid-19 infections tally may be shifting the markets’ focus to the outbreak’s long-term economic impact.

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