The USD/CAD currency pair is holding steady near the 1.4050 mark, buoyed by a slight uptick in value after experiencing modest losses in the previous session. Trading around 1.4030 during the Asian hours on Monday, the exchange rate reflects the ongoing struggles of the Canadian Dollar (CAD), which is closely linked to commodity performance.
Declining crude oil prices are weighing heavily on the CAD, impacting its strength against the US Dollar (USD). As oil prices continue to drop, market participants are closely watching this currency pair, assessing the implications for future trading strategies and movements within the forex market. The current dynamics highlight the sensitivity of the Canadian Dollar to changes in oil prices, emphasizing the interconnectedness of commodities and currency trading.
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Data Source: FX Killer Analysis Team Updated: 2025-11-17 03:53
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.