The Canadian Dollar (CAD) began the new year on a weak note, losing ground against most major currencies on Friday. The Loonie slipped against the US Dollar (USD), with the CAD/USD exchange rate reflecting a notable downturn. This underperformance marks the CAD as one of the worst performers in the market, indicating potential concerns about Canada's economic outlook as 2026 unfolds.
Market analysts attribute this softening of the CAD to a combination of global economic uncertainties and a cautious approach from traders. With the EUR/CAD pair also showing strength, the demand for the Euro further pressured the Loonie. As trading progresses, investors will be closely monitoring developments that could influence the CAD's trajectory, particularly any shifts in oil prices, given Canada's significant oil exports.
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Data Source: FX Killer Analysis Team Updated: 2026-01-02 18:29
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.