Reuters is out with the latest headlines, citing that the Federal Court has blocked the Keystone XL pipeline, with the key points found below.
“The Trump administration's justification for approving it last year was incomplete, says the State Department did not properly account for factors such as low oil prices, the cumulative impacts of greenhouse gases from Keystone and the Alberta Clipper pipeline and the risk of oil spills.”
Keystone pipeline supplies oil from Canada to Texas oil pipeline and is the main pipeline that removes supply bottlenecks on the Canadian oil exporters.
The USD/CAD bounced back towards the 1.32 handle after the Canadian dollar lost ground on the above headlines.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.